CRU: Global finished steel prices diverge, US the rare bright spot

This item was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com.

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 (Asia-Pacific) sheet prices declined. Plate prices were mostly firmer across APAC, stable to down in Europe, and continued climbing in the US.