Daily Futures Update 31/03/2020

LME Scrap Contango provides even more incentive not to sell physical cargoes, Metal Margin futures sag amidst wider market sell-off LME Scrap futures were a contrarian and fairly spectacular mover among steel futures markets on Tuesday, shifting even further into a Contango that so dramatically exceeds the cost of carry we are left wondering why … Continue reading Daily Futures Update 31/03/2020

Q&A: Phillip Price interview with Fastmarkets

The Board Report Founder Phillip Price spoke with Fastmarkets regarding our take on steel futures markets as a result of the unprecedented COVID-19 crisis: Fastmarkets: I know you work closely with futures markets and I think the futures market has become something people are looking at more because of all the uncertainties. How do you … Continue reading Q&A: Phillip Price interview with Fastmarkets

Daily Futures Update 30/03/2020

EAF conversion margins defy Contango trend amongst outright steel futures, LME diff moves off recent lows Steel futures trading continued to be characterised by widespread Contango curve shapes amidst further weakness at the prompt end on Monday, while paper traders were happy to pay higher prices for far-dated periods. But EAF conversion margin futures remained … Continue reading Daily Futures Update 30/03/2020

Daily Futures Update 27/03/2020

Capacity curtailments support Contango as physical scrap operators shun Carry Trades and liquidate remaining inventory HRC futures continued to push higher on Thursday, capitalizing on the newfound enthusiasm that seems to have stemmed from the US stimulus The seizing of the world steel supply chain has quickly gathered pace this week as the continued spread … Continue reading Daily Futures Update 27/03/2020

Daily Futures Update 26/03/2020

US HRC futures keep rising on stimulus enthusiasm, LME Scrap Contango strengthens HRC futures continued to push higher on Thursday, capitalizing on the newfound enthusiasm that seems to have stemmed from the US stimulus package and supported by reports of steel mill capacity curtailments. But there are some loud alarm bells ringing from the demand … Continue reading Daily Futures Update 26/03/2020

Daily Futures Update 25/03/2020

Stimulus hopes lead steel futures slightly higher, Contango trend sustains US steel futures lead the complex slightly higher on Wednesday as hopes for the nation's $2.5 trillion slated stimulus package triggered an influx of buyers suddenly happy to call the bottom for steel prices. The move provided further support for the widespread Contango presentation in … Continue reading Daily Futures Update 25/03/2020