CRU
November 17, 2023
Written by Ryan McKinley
Surging US sheet prices and expanding lead times are making imports more attractive.
The automotive workers’ strike is essentially over, and domestic US sheet prices have rocketed higher alongside lead times. There is little to suggest that the momentum of these price increases will slow over the next month or two, and thus imports have become a very enticing prospect for buyers.
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CRU: Global finished steel prices have diverged in August, with longs softening while sheet and plate firmed in most regions. Weak construction demand persisted across most longs markets, with the US the notable exception. Higher sheet prices were driven by tightening supply in the US and reduced import attractiveness in Europe, even as APAC sheet prices declined. Plate prices were mostly firmer across APAC, stable to down in Europe, and continued climbing in the US.
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