Scrap Prices North America
October 1, 2021
CRU: Price Declines Outside of the USA Accelerate
Written by Ryan McKinley
By CRU Senior Editor Ryan McKinley, from CRU’s Steel Sheet Products Monitor
Sheet prices outside of the USA fell markedly this week as demand declines and inventories build. The largest of these declines occurred in Europe, as lower-priced imports forced Italian domestic prices to fall below the €1,000 /t mark for the first time since May. German domestic prices were also down notably w/w. Expectations that prices will fall further in southeast Asia, amid yet more competitive offers from Russian producers, caused domestic prices to fall despite a spike in coking coal prices. U.S. sheet prices rose w/w, although the spread between transactions is widening and buyers are beginning to decline spot offers as their inventories find balance. In China, prices were stable w/w due to low trading activity ahead of national holidays.
