CRU: Global Sheet Prices Find Floor, Upward Pressure Limited

Sheet markets in most areas of the world have established a price floor within the last week. Still, in all markets we cover, demand weakness persists and threatens to either cap potential price increases or even reverse them.

The CRUspi was little changed month-on-month (MoM) in December at 190.8 after nearly all markets reached a bottom—many prices have even risen in recent weeks. This market floor was mostly established by changes in Chinese Covid policies and large, low-priced orders in the US. However, demand is still weak in most regions, and the sustainability of further upward price movements is in question.

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.

Ryan McKinley

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