• 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: Global finished steel prices diverge, US the rare bright spot

    CRU: Global finished steel prices have diverged in August, with longs softening while sheet and plate firmed in most regions. Weak construction demand persisted across most longs markets, with the US the notable exception. Higher sheet prices were driven by tightening supply in the US and reduced import attractiveness in Europe, even as APAC sheet prices declined. Plate prices were mostly firmer across APAC, stable to down in Europe, and continued climbing in the US.