International Steel Prices
March 16, 2021
CRU: Seasonal Slowness in Asian Sheet Markets
Written by George Pearson
By CRU Analyst George Pearson, from CRU’s Steel Sheet Products Monitor
The seasonal slowdown in the physical Chinese sheet market is ongoing, with inventories rising and demand falling w/w. However, concerns about limited supply during the 100th anniversary of the Chinese Communist Party continue to boost the Chinese HR coil futures market. Prices are still edging higher in the U.S. and Europe. There is some import availability, but it is limited. Mill outages in the U.S. have reduced expectations of future supply, while a Russian export tax could also reduce quantities sold to Europe.
