From mid-2020 through 2021 Q1, CRU’s US Midwest HR coil price benchmark increased by over 180% or over $800 /s.ton to reach a new record high, at least in nominal terms, of $1,240 /s.ton on 10 March.
This most recent upward price cycle was initially rooted in the demand rebound which commenced as the Covid-19 lockdowns started to ease in mid-2020 Q2. A series of supply limitations then propelled prices much higher.
Pandemic hits sheet demand and production
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