CRU: U.S. Sheet Prices Plummet Back Towards Global Average

By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Sheet Products Monitor, Jan. 26

Steel sheet prices in the U.S. sank by about 9% w/w as they continued to fall towards the global average. CRU’s weekly HR coil assessment in the U.S. was $126 /s.ton lower than the prior week, and high inventory levels relative to demand will keep downside pressure on prices for the near term. Meanwhile, mills in Europe had mixed availability, which kept prices stable in southern Europe relative to the north. Prices were also largely stable across Asia as trading activity was subdued ahead of Lunar New Year celebrations, although we do expect to see an uptick in prices for some markets after the holiday ends as costs for zinc and coking coal spike.

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.