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    CRU

    January 21, 2024

    CRU: Raw materials prices have peaked as demand slows down

    Written by Richard Lu

    CRU forecasts that global demand for steelmaking raw materials will fall month over month (m/m) between mid-January and mid-February.

    In Europe, restocking demand for steel is expected to accelerate as we enter 2024. This will support steel margins, which are expected to rise from the current 6% to 8% in April. As this continues to support steel production in the region, raw materials purchases are unlikely to rise further because shipments heading to Europe were already strong over December–January.

    Richard Lu

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