International Steel Prices
October 3, 2019
CRU: Global Sheet Price Decline Worsens
Written by Tim Triplett
By CRU Principal Analyst Josh Spoores
Sheet prices in North America have taken another step down this week losing $15-17 /s.ton w/w. Industrial demand remains limited as evidenced by the most recent ISM Purchasing Manager’s Index, which showed another contraction. Adding to this structurally weak demand environment is the ongoing strike at General Motors. This strike, now in its third week, is only beginning to affect sheet demand. As this strike continues, we will further lower our sheet price forecast as supply and demand become further unbalanced.
