CRU
August 26, 2021
CRU: Longs Prices Fall as Covid-19 Pushes Demand Down in Asia
Written by James Campbell
By CRU Principal Analyst James Campbell, from CRU’s Steel Long Products Monitor
Long product prices have fallen in most regions this month as demand was lower than expected. Part of the weakness was seasonal, but parts of Asia were also affected by further outbreaks of Covid-19. Except for the USA, the tight supply seen in H1 has eased. Some markets are even oversupplied. For now, this includes China. However, production cuts in China are gathering pace and this could quickly change, with global implications.
