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    Overseas

    July 16, 2020

    CRU: China Continues to Buck the Trend for Sheet

    Written by George Pearson

    By CRU Prices Analyst George Pearson, from CRU’s Steel Sheet Products Monitor

    The U.S. Midwest market has continued to record lower weekly sheet prices. Our assessment of HR coil is now down $23 /s.ton since the July 1 assessment and market participants expect further price declines to emerge for all sheet products over the near term. While demand has improved from 2020 Q2, it remains well below year-ago levels. At service centers, sheet inventory is low in absolute terms, but when compared with current demand levels, it is high. Finally, scrap costs have started to fall back and further declines are possible.

    George Pearson

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