CRU: Global Sheet Prices Continue to Fall on Increasing Availability

By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Sheet Products Monitor, Jan. 5

Sheet prices fell in most markets around the world as supply availability grew. In the USA, market participants report that end users are cancelling or postponing orders, which has led to an even greater build up in inventory levels and caused most sheet prices to fall w/w. A similar situation is true for Europe, where inventories are also building and competitively priced imports, especially from India, continue to put downward pressure on prices. In part, these competitive offers have come about as domestic producers in India face their own pressure from competitively priced imports from northern Asia. In China, prices were unchanged w/w but demand weakness and rising inventories will likely result in further price falls in the near term.