International Steel Prices
January 15, 2021
CRU: Longs Prices Up as China Policy Changes Tighten Supply
Written by James Campbell
By CRU Principal Analyst James Campbell, from CRU’s Steel Long Products Monitor
Global long product prices have increased to the highest level since 2008. Global supply has tightened due to production cuts and changes to export tax rebates in China. Demand is strong in many regions, but Covid-19 outbreaks and seasonal patterns mean some weakness is seen. High prices are a concern for future demand as finance is limited, pushing buyers some to lobby for price controls.
