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    September 22, 2023

    CRU: Demand-side Factors to Create Drag on Global Sheet Markets

    Written by Ryan McKinley

    Demand will be the determining factor in what happens to steel sheet prices globally for the remainder of the year, and most risks right now are to the downside.

    An autoworkers strike has started in the USA and could increase price volatility in the domestic sheet market. The longer and more severe this strike is, the deeper sheet prices will fall. However, this will be balanced by a price recovery of similar (or greater) magnitude after any agreement is reached. Maintenance is planned at many US mills in the near term and will be extended if the strike persists. Supply-side action is unlikely to be enough to tighten the market and prevent price declines from occurring, although mills will likely need to reduce output to prevent a total price crash.

    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.

    Read more from Ryan McKinley

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