Q1 2020 Steel Report Overview

Steel prices in the US and China rebounded slightly in Q4 2019, rising off of multi-year lows in both regions. In contrast, European domestic prices fell even further as manufacturing activity continued to decline and crippled demand. European domestic flat steel prices are below that of both the US and China.

  • US HR prices dipped early in Q4, falling to new historic lows of ~$541/MT in October before aggressively rebounding +16% to end the year at ~$625/MT.
  •  EU HR prices continued downwards, falling 9% QoQ after nearly 20+ straight months of falling, despite upward movements in both the US and China.
  • China flat prices slightly increased at 3% in Q4 2019, but the trend is unlikely to last as increased domestic production increases supply surplus.
  • Scrap prices moved strongly upwards across the board with Q4 prices rising 6%, 6%, and 14% in the US, EU and China, respectively. The decline of Iron Ore prices has slowed with Q4 prices falling just 2%, although prices still remain 17% above levels from the same period last year.

As always, we look forward to hearing your questions and comments.
The Steel Team at Applied Value

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