CRU's US Midwest HRC Price - Proudly Serving the Market for 40 Years
13 February 2020
In this Spotlight, CRU explores the past four decades of US Midwest HRC prices and events that have helped shape the market.
Serving the market for 40 years
CRU has a long-established and proud history of serving the US market with its price and analysis services. January 2020 marks the 40th anniversary of the establishment of CRU's US Midwest HRC price, often referred to by the market as 'The CRU'.
Founded in 1969 as a specialist copper research company, CRU began analysing the steel market in 1980, issuing its first price assessment in January of that year. The first price assessed, in nominal terms, was $326 /s.ton. If we adjusted this number for inflation to put in context of today, it equates to $1,079 /s.ton
Over an extended period, analysing the real price has helped us to better understand the market as well as its underlying volatility. The CRU has been published over a period when many important events in the US steel industry's long and colourful life have occurred. Following are some of these events arranged under eras as shown.
Decline - September 1984
Reagan seeks voluntary restraint agreements to cut steel imports.
Implemented with 25 exporting countries in order to limit imports of finished steel products to an 18.5% share of the US market from 1985-1989.
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