CRU
October 18, 2024
CRU: Downside risks continue for global scrap prices
Written by Puneet Paliwal
Global scrap prices increased in Asia and the US in October, although CRU believes downside risks remain for prices in the short term, particularly outside the US market.
The recent price rise in Asia was driven by a positive outlook towards steel demand in China following the announcement of government stimulus. However, the effects of the government measures will not be immediate, and this lag is likely to put pressure on scrap demand and prices after the restocking and optimism fades. A similar trend is expected in Japanese scrap export prices.
