CRU
May 6, 2025
Written by CRU Group
The chances of crude steel production reductions across China are high because they have been mentioned in a government report, according to Cai Yanbo, deputy general manager of Baoshan Iron & Steel (Baosteel).
He was commenting after being asked about market rumors of 50 million tons of output being cut this year, less than 0.5% of the 1 billion tons-plus China has produced annually in recent years.
CRU Research Principal speaks about the implication of Mesabi Metallics' proposed steel mill in Iowa.
CME Group’s HR coil futures have had a volatile stretch over the past few weeks.
Americas wire and cable demand held firm through H1 2026, as data center and energy infrastructure buildouts, driven by wider electrification and power supply investments, more than offset weakness in traditional construction sectors such as residential
For the next month, CRU forecasts that steelmaking raw materials demand will improve as buyers will restock ahead of seasonally stronger steel-demand periods.
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.