Steel Products Prices North America
February 10, 2020
CRU: U.S. Ferroalloys Trade Lower
Written by Estelle Tran
By CRU Prices Analyst Estelle Tran, from CRU’s Bulk Ferro Alloys Monitor
The steel market got a stronger than expected start to the year, lifting year-to-date U.S. steel mill capability utilization to 82.1 percent—the highest level since May 2019, according to the American Iron and Steel Institute. The Institute for Supply Management reported that the U.S. manufacturing purchasing managers’ index (PMI) moved back into expansion territory in January with a reading of 50.9, ending a five-month period of contraction that began in August. Seasonal restocking has bolstered steel demand and, as a result, the ferroalloys market has seen end-users increase offtake from their long-term contracts.
