Month: February 2020

Poll: One World Commodities Scrap Market Sentiment

The results from the latest One World Commodities survey are in - 42 of the scrap business' most important players responded to the following question posed: Which threshold will be reached first over the coming days and weeks: $268/mt or $288/mt CFR Turkey for deep sea cargoes of HMS 1&2 (80:20)? Industry consensus has us … Continue reading Poll: One World Commodities Scrap Market Sentiment

Daily Futures Update 28/02/2020

Coronavirus news still dominates as steel market sentiment sours, volatility spikes Steel futures market conditions have been changing constantly and quickly over the past 48 hours, as a global market rout destroyed confidence - volatility has been huge. As a result, our daily marks are less representative than usual. It's fair to say, the broad … Continue reading Daily Futures Update 28/02/2020

Daily Futures Update 25/02/2020

Steel futures traders buyer the dip but confidence is still restrained Restrained confidence crept back into steel futures markets on Wednesday, with finished products instruments leading the pack slightly higher and providing some support for EAF conversion margin futures in both regions. Exchange Prices at 1630 GMT Disclaimer:  This report is issued by Price Consult … Continue reading Daily Futures Update 25/02/2020

Daily Futures Update 24/02/2020

Futures await direction from physical, EAF curves recover slightly Steel Futures trading moved into a kind of holding pattern on Monday, when sentiment remained fairly firm but buyers were reluctant to push higher while further direction from the physical market is absent. EAF conversion margin futures edged into slightly more bullish territory, with finished products … Continue reading Daily Futures Update 24/02/2020

Daily Futures Update 21/02/2020

Another firm day for steel futures consolidates a bullish week Friday's steel futures trade consolidated this week's gains in most markets, with CME Busheling futures moving back into Contango (at the front end) and EAF conversion margin futures closing higher than Monday's open. Spot market sentiment appears to have turned, with prices rallying in many … Continue reading Daily Futures Update 21/02/2020

Daily Futures Update 20/02/2020

Steel futures rally continues as LME Scrap Contango strengthens and US HRC shorts seek cover Steel futures market confidence continued to build on Thursday, with a resurgence in buy-side interest for nearby LME Scrap futures coinciding with increased short covering interest for US HRC futures. LME FOB China HRC futures posted even more significant gains, … Continue reading Daily Futures Update 20/02/2020

Daily Futures Update 19/02/2020

EAF margin futures keep edging higher, finished product sentiment improved EAF conversion margin futures moved higher again on Wednesday as sentiment for finished products continued to improve while long scrap futures position holders were happy to take some risk off the table. Both scrap futures markets are now trending towards Backwardation (beyond the front month), … Continue reading Daily Futures Update 19/02/2020

Daily Futures Update 18/02/2020

Forward EAF conversion margins edge higher, finished products pessimism weakens The forward curves for EAF conversion margins moved slightly higher on Tuesday as steel finished products futures showed tentative signs of recovery. Scrap curves traded in a presentation that supports an outlook of healthy demand and limited supply, while US HRC futures short coverers chased … Continue reading Daily Futures Update 18/02/2020

Daily Futures Update 13/02/2020

Steel Futures front months are still well bid Front month Steel Futures continued to gain ground on Thursday, with higher index prints for ferrous scrap and rebar going some way to support expectations that buyer reluctance to consider ex-China offers on force majeure concerns will support demand for production elsewhere around the world. There were … Continue reading Daily Futures Update 13/02/2020