CRU: Supply Begins to Outstrip Demand, Global Sheet Prices Fall

By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Sheet Products Monitor, May 11

The CRUspi plunged month-on-month (MoM) in May by over 8.6%, which is the largest percentage point decline since late 2008 and the second-largest ever in terms of total fallen points. Supply chain readjustments for both sheet and steelmaking raw materials in the wake of the war in Ukraine have happened quickly enough to cause notable price drops in the US and in Europe while weakening demand elsewhere has forced mills to lower offer prices.

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.