Overseas
March 13, 2022
CRU: Steel Markets Thrown into Turmoil by War in Ukraine
Written by Chris Bandmann
By CRU Analyst Chris Bandman, from CRU’s Steel Monitor, March 16
The war in Ukraine is having widespread and deleterious effects on the global steel markets, but no one region has been more heavily affected than Europe. Steel prices in the region have soared to unseen heights and continue to rise on a daily basis. Elsewhere in the world, steelmakers are adapting to the seismic shift of the loss of Russian finished and semifinished steel on the international markets. Only the Chinese market has remained mostly unaffected at present, though the war presents a significant risk factor as global supply chains realign.
