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    December 17, 2020

    CRU: U.S. Buyers Seek Import Options Amid Extreme Supply Tightness

    Written by Estelle Tran

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

    U.S. buyers have been watching sheet steel prices skyrocket and found themselves weighing high-priced imports out of necessity. The steel market remains supply short, even with the restart of U.S. Steel Gary No. 4 this month, and market contacts expect that the market will remain extremely tight into Q1 as mills are reporting no spot availability. Sheet markets are tight partly because of faster than expected demand growth at OEMs as well as mill production issues exacerbating delivery delays. On Dec. 16, the CRU U.S. Midwest HR coil price was $899 /s.ton, up $181 from $718 /s.ton on Nov. 18, and expectations are that prices will reach $1,000 /s.ton.

    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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