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    January 8, 2021

    CRU: U.S. Mills Earning Massive Margins in Historically Strong Bull Market

    Written by Josh Spoores

    By CRU Principal Analyst Josh Spoores, from CRU’s Steel Sheet Products Monitor

    Sheet prices in the U.S. Midwest market have not only continued to rise, but the m/m gains have come so fast that our second Wednesday price assessment completely skipped the $900 /s.ton level. Our Jan. 12 price assessment for HR coil is $1,044 /s.ton, a m/m increase of $199 /s.ton. HR coil prices have now risen by $607 /s.ton since the recent low in August, a gain of 139%.

    Josh Spoores

    Josh Spoores joined CRU in 2012 as Principal Analyst and editor of CRU’s Steel Sheet Monitor and Steel Sheet Market Outlook. During that time, Mr. Spoores forecast prices, demand, production and trade of sheet and plate products for both Canada and the US for CRU's Steel Sheet & Plate Market Outlooks. Today, he heads up steel analysis and forecasting for the Americas region. Prior to joining CRU, he was a Senior Marketing Analyst at Severstal North America, founder of Steel Reality, a forward-looking market analysis firm using a models-based approach for flat rolled and plate steel. He was also the Market Research Manager at Majestic Steel USA, one of the largest flat rolled service centres in the USA. He has a BSc in Business Administration from Bowling Green State University.

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