International Steel Prices
March 16, 2021
CRU: Tangshan Emission Cut Boosts Chinese Sheet Prices Further
Written by George Pearson
By CRU Analyst George Pearson, from CRU’s Steel Sheet Products Monitor
Details of China’s Tangshan emission control policy that circulated in the last week have provided a further boost to Chinese steel prices but have weighed on prices for iron ore. The high cost of freight is still reducing the competitiveness of sheet imports in every region except for the U.S., where prices are far above the rest of the world. Sheet prices and mill margins are now in uncharted territory, with several regional prices and regional producer margins at the highest level recorded by CRU.
