Economy
September 30, 2018
CRU Webinar: Favorable Outlook for Global Steel
Written by Tim Triplett
Despite moderating prices, the outlook for the U.S. steel market is generally favorable for 2019, reported Josh Spoores, CRU Principal Analyst for North America, during a CRU Webinar on Friday.
The Trump administration’s Section 232 steel tariff has limited competition from steel imports this year. Steel sheet arrivals into the U.S. are down 12 percent through August. Nevertheless, hot rolled coil (HRC) prices in the U.S. have declined by about $73 per ton, or 8 percent, from highs earlier in the year.
