Scrap Prices North America
June 16, 2019
CRU: Softer Steel Markets Weaken Metallics Demand
Written by Tim Triplett
By CRU Principal Analyst Chris Asgill
Scrap supply has continued to outpace demand in most of the key scrap supply markets and CRU’s metallics price indicator (CRUmpi) has fallen a further 4.2 percent m/m to 231.2 (see chart). This is the lowest level for the indicator since June 2017. The depth of U.S. scrap price weakness surprised the market, while seasonally softer demand elsewhere was generally the key driver of weakness. Steel market sentiment is gloomy and this is not expected to change in the near-term.
