International Steel Prices
March 19, 2021
CRU: U.S. Anticipates Wave of Imports in Tight Steel Market
Written by Estelle Tran
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service
The strength and longevity of the current uptrend in steel prices has surprised many market participants, and mill maintenance outages are expected to keep lead times extended. The latest lead time survey on March 15-17 from Steel Market Update, which is part of CRU, pegged mill HR coil lead times at 8.8 weeks. Severe winter weather in mid-February created massive power outages and disrupted steel production in the Southern U.S. and Northern Mexico. With mills running behind schedule and controlling order entry, inventories continue to be at low levels.
