• Skip to main content

    CRU

    October 18, 2024

    CRU: Downside risks continue for global scrap prices

    Written by Puneet Paliwal

    Global scrap prices increased in Asia and the US in October, although CRU believes downside risks remain for prices in the short term, particularly outside the US market.

    The recent price rise in Asia was driven by a positive outlook towards steel demand in China following the announcement of government stimulus. However, the effects of the government measures will not be immediate, and this lag is likely to put pressure on scrap demand and prices after the restocking and optimism fades. A similar trend is expected in Japanese scrap export prices.

    Puneet Paliwal

    Read more from Puneet Paliwal

    Latest in CRU

    CRU: HR coil futures re-price 2027 forward curve

    CME Group’s hot-rolled coil futures have jumped higher as the loss of a reheating line at a large Southern mill have renewed domestic production issues. At market close on Oct. 12, the Q4'26 futures are now pricing in $1,295 per short ton (st) for HR coil, a month-over-month (m/m) increase of $63/st. For 2027, the forward curve is up $80 /st vs. September, at $1,207/st. For November 2026 through March 2027, prices are at an average just above $1,300/st.