International Steel Prices
October 4, 2019
CRU: Sluggish Demand Turns Longs Sentiment Bearish
Written by Tim Triplett
By CRU Principal Analyst James Campbell
The decline of long product prices accelerated this month as demand in many regions around the world failed to ignite after the seasonally slow July-August period. Prices have now unwound to the level before the 2017-18 boom. Sluggish demand and falling scrap prices have turned sentiment bearish and buying activity has reduced on expectation of further price falls. Overall, the Global Long Products Price Indicator (CRUspi Longs) fell by -5.6 percent m/m to 159.9 in October 2019, with prices lower across all regions this month.
