Steel Products Prices North America
September 4, 2018
CRU Forecast: Steel Prices to Moderate in 2019
Written by Tim Triplett
The Trump administration tariffs have had the expected effect on steel imports and steel pricing this year, but prices for hot rolled coil and plate could moderate a bit next year as economic growth slows and the cost of steelmaking raw materials begins to decline, forecasts Josh Spoores, principal steel analyst for the CRU Group.
Speaking at Steel Market Update’s steel summit on Aug. 29 in Atlanta, Spoores noted that hot rolled coil and plate prices have risen more than 40 percent since the end of 2017 due to a tighter supply-demand balance, as well as the 25 percent Section 232 tariff on steel imports. For hot rolled coil, Section 232 has created a historic premium of U.S. prices over domestic prices in Europe and China. U.S. plate prices are also at a premium, but not as excessive as HRC, Spoores said.
