Tight raw materials supply remains at odds with poor finished products demand Steel futures continue to hover in a holding pattern as the battle between tight raw materials supply and poorly demand for finished products plays out. LME paper traders remain convinced that tightness in supply won't just push scrap prices higher, but cause higher … Continue reading EAF futures pinch continues

Front month edges down but still plenty of Carry available Once again LME Scrap futures dominated the attention of the paper trade on Wednesday, with an initial extension in the nearby Contango turning into a small sell-off as the market approached close. Although the front month finished the trade down on the day, tradeable value … Continue reading Scrap Contango continues to shine, despite some selling

The futures market continues to incentivise inventory generation It looks like physical deep sea market scrap sentiment is starting to soften, with news of lower-priced bookings circulating after the weekend. It's surprising that accumulators have chased lower bids for prompt cargoes while the front end of the LME Scrap forward curve demonstrates a Contango well … Continue reading Bulk exporters spurn LME Scrap Contango

Curves soften slightly as paper trade becomes more cautious Tuesday's steel futures trading was a relatively quiet affair, with an early rally in onshore Chinese markets failing to stimulate further gains in the wider world. It looks like some ferrous scrap accumulators started to take note of the LME Scrap curve, which still represents a … Continue reading Steel Futures rally dwindles

The LME Scrap Contango is once again incentivising cargo sellers to hold onto their tons It turns out that all Steel Futures needed was a little extra rest and almost all markets stormed out of the traps after the long weekend, with curves pricing significantly higher at the front end through the day. Today's show-stopper … Continue reading Careful of the Carry

Most steel futures remain well-offered beyond nearby periods Nearby steel futures continued to show strength on Thursday, buoyed by a voaltile yet eventually positive day for Chinese onshore futures. Reports that Chinese imports of semi-finished products are already increasing has stimulated buy-side interest for LME mini-mill complex futures. And the renewed bullishness sparked by last … Continue reading Front End Contangoes conceal longer-dated nervousness

Nearby buy-side interest helps finished product futures slightly higher Tuesday steel futures trading was a more positive affair, with shifting dynamics in the Mediterranean scrap market supporting outright levels for LME Scrap and Rebar futures while short coverers pushed the front end of the US HRC futures curve higher, in what looked like another delayed … Continue reading Short covering gains pace

Prompt market bulls crush the US forward Metal Margin CME Busheling futures continued to storm higher on Monday, with spot-focussed traders continuing to bet that the monthly physical price settlement will surprise to the up-side even as paper traders have become accustomed to higher levels. Last week's mill price hike announcements seem to have added … Continue reading Busheling futures keep pushing higher