CRU: Sheet Market Activity Slows in Asia and Europe

By CRU Analyst George Pearson from CRU’s Steel Sheet Products Monitor

Sheet prices fell significantly in China and the Vietnamese import market in the last week and there were also smaller decreases in India. U.S. and European sheet prices continued to rise overall, although European trading activity was slower, and increases were smaller than we have become used to. Domestic and import availability continues to improve globally, but this is not expected to materially change market conditions in the next few weeks. Mills remain largely unmoved on prices after months of strong orderbooks, but the difference between trader and mill prices in regions such as Vietnam and India suggests a cooling in spot demand.