CRU: U.S. Long Product Prices Rise Following Big Scrap Price Hike

By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Long Products Monitor, Dec. 1

Long product prices again moved higher in the USA m/m following a larger-than-expected scrap price increase and unseasonably strong demand. Mill-announced price increases for wire rod were the largest at $80 /s.ton m/m, while merchant bar and beam prices were also raised by $50 /s.ton. There was another increase of $30 /s.ton for rebar announced, but it was not clear at the time of our publication if it had yet been accepted by the market. Given strong backlogs and general market tightness, it appears upward price momentum for most products will carry into early 2022 before cooling.

Ryan McKinley

Ryan joined CRU in 2018 and is now the editor of the Steel Sheet Monitor. He also forecasts North American prices, production, demand, and trade for sheet and plate products in CRU's Steel Sheet and Plate Market Outlooks. Ryan has eight years of experience in steel market analytics, covering markets from steel metallics, steel long products, stainless steel, and now steel sheet and plate markets. Prior to joining CRU, he covered a variety of local North American scrap markets at Argus Media. He holds a BA in Political Science from Colorado State University in Fort Collins, Colorado, and an MA in Energy Politics in Eurasia from European University located in Saint Petersburg, Russian Federation. Ryan is based in Denver, Colorado.