CRU: Rising Global Steel Prices and Trade Uncertainty Limit U.S. Imports

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

The U.S. market is at a unique point where steel buyers could be convinced to buy imports because of extreme supply tightness. With about 7Mt of blast furnace capacity remaining idled in the U.S. and Canada, sheet mills in operation are effectively running at 100% and are controlling order entry for January. Inventories below two months of supply at service centers, extended lead times and delivery delays have service centers searching for supply options; however, with global prices elevated as well, the prices may not be attractive.

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.