International Steel Prices
June 21, 2020
CRU: U.S. Sheet Market Mulls Mill Restarts and Demand Prospects
Written by Tim Triplett
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service
U.S. automaker restarts in May drove an increase in steel demand and helped to prop up sheet prices. There is concern, however, over whether there is enough new demand to support mills restarting or if manufacturers are mainly managing pent-up demand. We’ve heard feedback that mills had stronger bookings for June production than for July, and lead times remain short. Steel Market Update, which is owned by CRU, published in its June 11 survey that HR coil lead times receded to 3.73 weeks from 3.91 weeks two weeks before.
