Steel Products Prices North America
January 13, 2019
CRU Forecasts U.S. Sheet Demand, Prices
Written by Tim Triplett
The North American steel sheet market in 2018 was heavily influenced by effects from the Section 232 tariffs. These tariffs greatly increased U.S. sheet prices, while at the same time helped to further reduce imports. Our forecast today calls for a more measured rate of increase for underlying industrial growth, while prices will more closely follow global price trends as the U.S. will remain a net importer.
There are significant risks in our forecast, though, as changes will inevitably come to the S232 tariff, while near-term demand may disappoint due to trade frictions, as well as lower demand from the energy sector. Ignoring downside risks, sheet consumption is forecast to rise by a CAGR of 1.8 percent from 2019-2023.
