Analysis
June 5, 2026
CRU auto outlook: Ongoing Iran conflict continues to cloud outlook
Written by David Leah
This item was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com.
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Mills seek more scrap after lower prices fail to attract tons
Several mills that bought October scrap early last week are still asking for additional supplies, scrap market participants said. The reason: the mills' initial prices did not attract enough of the raw material, they said. A trading source based in northern Ohio said three mills have contacted his firm seeking offers for additional tons. He said the mills asked for offers even if prices were higher than their original buys last week.
US steel exports slip in August to 6-month low
US steel exports fell 3% from July to August, continuing the decline from June’s 17-month high, according to recently released US Department of Commerce figures. Exports have been historically low for over a year and remain weak in comparison to volumes seen across 2022-2024. August trade was down 2% compared to the same month of 2025, 25% lower than August 2024, 29% lower than August 2023, and 21% lower than August 2022.
AMU: Edward Meir’s week in review and thoughts for the week of Oct. 12, 2026
Base metals had a mixed week. Tin lost almost 4% on the week, finishing at $53,000/ton. Prices dropped to a low of $51,259/ton at one point. Aluminum was another loser, off by about 1.6% on the week. Investors are expecting more aluminum supply going forward, especially out of China and Indonesia. Copper prices tacked on 1.1%. They have now recovered more than half of the $700/ton loss sustained (over the course of a week) following reports/rumors in mid-September that US tariffs on refined copper imports might not proceed after all.
Leibowitz: US steel prices skyrocket above world prices. Which are right?
Steel markets in the United States now feature supply shortages. Spot tons are well-nigh unavailable, and even contract tons are scarce. Based on the available statistics, the US market for flat-rolled products is seriously constrained. The US economy is still the strongest in the world, and manufacturing output remains vigorous. But the available supply is tight. The reason is fairly obvious. US domestic supply has increased a bit. Meanwhile, imports have fallen significantly.
Commerce amends duties on Korean HR
The Department of Commerce is adjusting the countervailing duties (CVDs) on imports of hot-rolled steel flat products from two South Korean producers. The agency released the final results of its administrative review for calendar year 2023, finding a lower rate for Hyundai but a higher rate for POSCO. Tariff and trade issues have led South Korea to overtake Canada this year as the largest foreign supplier of HR.