Market Segment
June 30, 2020
CRU: How the Oil Price Shock is Impacting Steel Costs
Written by Ryan Smith
By CRU Senior Analysts Ryan Smith and Andrew Gadd, from CRU’s Steelmaking Raw Materials Monitor
Oil markets have had a torrid 2020, with the combination of demand losses due to Covid-19 and the breakdown of coordination between major producing countries resulting in plummeting prices. In this Insight, we assess how this oil price shock influences steelmaking costs through both raw material prices and the direct steel mill impacts.
