CRU
January 18, 2021
CRU: U.S. Long Product Prices Surge to Highest Levels in a Decade
Written by Ryan McKinley
By CRU Senior Analyst Ryan McKinley and Analyst Dave Thewlis, from CRU’s Steel Long Products Monitor
U.S. domestic long product prices rose further m/m in January, hitting multi-year highs (see chart) as limited supply met with strong demand. Buyers are increasingly relying on domestic mills to acquire material, as global prices have made importing less viable. Further supporting higher prices have been a large increase in input costs like scrap. We see this domestic market tightness extending into February, with some easing on the horizon in late 2021 Q1 or 2021 Q2.
