International Steel Prices
March 24, 2022
CRU: Raw Material Price Increases Cause Global Sheet Price Hike
Written by Ryan McKinley
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Sheet Products Monitor, March 23
Persistently high steelmaking raw material prices and restricted global production pushed sheet prices higher w/w across the world. The largest of these increases were in Europe and the USA, with prices rising by triple-digit amounts for yet another week. Still, domestic buyers in both markets are growing wary of this sharp price spike and are generally only making purchases when necessary. Nearly all Asian exporters are now focused on sending material to Europe given the quick rise in prices there, leaving Chinese exporters as the only option for importers in other parts of Asia. Between this and logistical issues caused by the recent Covid-19 outbreak in China, prices around Asia were also up w/w.
