CRU: U.S. Prices Find Bottom in Uncertain Trade Environment

By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service

U.S. sheet steel prices hit their lowest point of the year on Aug. 12 and are slated to rise as steel consumption has been increasing. Steel mill capacity utilization reached 61.5 percent in the week ended Aug. 15, up from 60.4 percent the week before, according to the American Iron and Steel Institute. Despite concerns about whether there is enough steel demand to support the restarted blast furnaces, buyer sentiment has turned cautiously optimistic as shipments have increased, mill lead times have extended to late September and early October, and scrap prices are trending up for September’s scrap buy.

Estelle Tran

Estelle Tran is a senior analyst at CRU based in Pittsburgh. Estelle joined CRU as a steel and ferroalloy prices analyst in October 2017. She is the main contact for data providers who contribute to the CRU Midwest flat-rolled steel indices. She is also the editor of the Steel Monitor and analyzes the monthly service center inventories report for Steel Market Update. Prior to joining CRU, Estelle worked at S&P Global Platts, reporting on flat-rolled steel, long steel, primary aluminum and trade issues. She earned a B.A. in English writing and history from the University of Pittsburgh. Estelle is also past president of the Pittsburgh chapter of the Association of Women in the Metal Industries and the Northeast regional vice chair.