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

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 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

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