Regional steel prices largely follow quite similar tends with various lags, but have become more synchronised
Data: CRU International; www.steelpriceindex.com or www.CRUspi.com
Monthly CRU Steel Price Index (CRUspi) April 1994 =100
1994      1995         1996          1997         1998          1999         2000          2001         2002
This chart shows regional steel price trends in three main regions.

What is most noticeable is that each of the regions follow similar trends, though there may be time lags involved.

Earlier in the period, these lags appeared more prevalent, but they appear to be more synchronised in recent years.

It would appear that regions cannot isolate themselves from global trends in steel prices.

This is possibly due to economic globalisation, as global economies become tied closer together in economic fortunes.

However, there is also another reason – international trade, notwithstanding recent trade actions.