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    CRU

    August 7, 2024

    CRU: US prices find a bottom as other markets fall

    Written by Ryan McKinley

    The US sheet market appears to have reached a bottom following consistent weekly declines since April. However, other markets remain weak due to limited demand. Trading in Europe has been slow due to summer holidays. While European mills are also undergoing maintenance outages, these have not been enough to offset ongoing price falls, with weak demand still outweighing supply. Softer demand can also be seen in China, where the country’s PMI held in contraction for another month. Attempts to increase offers in other parts of Asia were met with resistance, and buyers in India continue to hold sufficient inventory levels as construction activity remains low due to heavy rainfall.  

    USA

    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.

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