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    September 17, 2020

    CRU: Steel Buyers Fret About Longevity of Rally as Prices Skyrocket

    Written by Estelle Tran

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

    A combination of increased seasonal demand, low service center inventories, unplanned outages, spike in scrap prices and government restrictions on Brazilian slab imports have added fuel to the usual seasonal uptick and turned it into a surge. After reaching a bottom in mid-August, sheet prices have been taking strides weekly with HR coil prices up $125 /s.ton in five weeks and reaching $562 /s.ton on Sept. 16. With sheet mills sold out of October, they are eyeing further increases for November rollings. U.S. Steel on Sept. 14 hiked sheet prices $60 /s.ton, and market sources believe mills will achieve $600 /s.ton HR coil spot pricing—briefly.

    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.

    Read more from Estelle Tran

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