Scrap Prices North America
March 11, 2021
CRU: Metallics Prices Rebound as Markets Tighten
Written by Ryan McKinley
By CRU Senior Analyst Ryan McKinley from CRU’s Steel Metallics Monitor
The CRU metallics price indicator (CRUmpi) rose by 14.4% m/m in March to 354.4, bouncing back above levels seen in January. China’s return to the steel market following New Year holiday celebrations there helped lift steel and scrap prices in Asia, while seasonally constrained supply in Europe and the U.S. during a time of high demand also resulted in a rise in metallics prices. We see some downside price risks building for April, but do not expect prices to undergo substantial downside pressure.
