Daily Futures Update 12/02/2020

CME & LME EAF conversion curves diverge on cloudy finished products outlook Nearby strength continued to characterize the LME EAF segment on Wednesday, when the spot market for both instruments rose further and paper market traders bet this rally will be sustained. But CME US HRC futures remained well offered, particularly at the front end, … Continue reading Daily Futures Update 12/02/2020

Daily Futures Update 10/02/2020

Forward EAF margin squeeze continues on poor finished products outlook LME Scrap futures continued to rise on Monday, despite more concerning news about the still escalating Coronavirus outbreak over the weekend and some very pessimistic moves from other financial markets. Reports of a series of new deep sea scrap bookngs by Turkish mills has paper … Continue reading Daily Futures Update 10/02/2020

Daily Futures Update 07/02/2020

Scrap futures Contango stretches further while finished products tend to more bearish posture Scrap futures ended the week on a bullish note, with both LME Scrap and CME busheling climbing further into Contango. But instruments corresponding to finished products were much more of a mixed bag and this had a significant impact on EAF conversion … Continue reading Daily Futures Update 07/02/2020