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    March 20, 2022

    CRU on Aluminum: An Economic Snapshot

    Written by CRU Americas

    By Matthew Abrams, Analyst, CRU Group

    Over the past week, there have been a few noteworthy updates to new Russian sanctions. First, the big news was Russia’s removal from the list of Most Favored Nations. This allows room for new duties to be imposed on the imports of Russian goods. The U.S. does not import much aluminum, which leaves the upside price risk minimal. Any change would have to work its way through Congress, which will take time to see if there will be any real effects.

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    galvalume steel coil

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    Nucor increases spot HR coil by $15/ton

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    Final Thoughts: Is the steel market now tighter than in 2021?

    "Now, the problem is no longer the price. The problem is having access to steel." That would have made a good lead. But I can’t take credit for it. Those (very quotable) words are from Cleveland-Cliffs Chairman and CEO Lourenco Goncalves during the steelmaker’s quarterly earnings conference call on Monday. For a while, I thought the shortages we'd been hearing about might be mostly a problem for small- and mid-sized buyers. But we’re seeing even some of the biggest steel buyers talking openly about supply problems.