International Steel Prices
CRU: The American Jobs Plan – What Does it Mean for Metals Demand?
Written by CRU Americas
April 29, 2021
By CRU’s Economics Team
The Biden administration has recently announced a $2.2 trillion American Jobs Plan (AJP) spending package, which includes around $1 trillion of spending on infrastructure. In this slidepack, we set out what this could mean for metals demand and the wider U.S. economy.
Our analysis suggests that the AJP could boost demand for steel and copper by around 5% over a five-year period, and aluminium by around 1.6%. However, the exact impact will depend on the details of the spending, which will take time to become clear.
The impact of the AJP on the U.S. economy as a whole will be more modest. Unlike the recent stimulus packages, the spending will be spread over a number of years and financed mainly through tax increases–although this may change during political negotiations.
Click here to view the presentation from the CRU Economics team.
Request more information about this topic.
Learn more about CRU’s services at www.crugroup.com
CRU Americas
Read more from CRU AmericasLatest in International Steel Prices
US HR prices and imports diverge, 50% S232 drives the gap
Hot-rolled (HR) coil prices in the US declined again last week, while offshore prices increased week over week (w/w).
50% S232 keeps EU import HR prices above US tags
Hot-rolled (HR) coil prices in the US edged lower again this week, while offshore price were little changed. Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs.
US CRC prices dip, widening gap vs. imports
Cold-rolled (CR) coil prices continued to decline in the US this week, while prices in offshore markets ticked higher.
US HR prices remain sharply higher than EU HR on 50% S232
Hot-rolled (HR) coil prices in the US edged lower again this week but have remained in a tight band for roughly four months. Stateside prices continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.
CRC price declines tighten US vs. EU gap
Cold-rolled (CR) coil prices continued to tick lower in the US this week, with a similar trend seen in offshore markets.