• Skip to main content

    CRU

    January 15, 2021

    CRU: Longs Prices Up as China Policy Changes Tighten Supply

    Written by James Campbell

    By CRU Principal Analyst James Campbell, from CRU’s Steel Long Products Monitor

    Global long product prices have increased to the highest level since 2008. Global supply has tightened due to production cuts and changes to export tax rebates in China. Demand is strong in many regions, but Covid-19 outbreaks and seasonal patterns mean some weakness is seen. High prices are a concern for future demand as finance is limited, pushing buyers some to lobby for price controls.

    James Campbell

    Read more from James Campbell

    Latest in CRU

    CRU: HR coil futures re-price 2027 forward curve

    CME Group’s hot-rolled coil futures have jumped higher as the loss of a reheating line at a large Southern mill have renewed domestic production issues. At market close on Oct. 12, the Q4'26 futures are now pricing in $1,295 per short ton (st) for HR coil, a month-over-month (m/m) increase of $63/st. For 2027, the forward curve is up $80 /st vs. September, at $1,207/st. For November 2026 through March 2027, prices are at an average just above $1,300/st.