Steel Products
February 1, 2013
Written by John Packard
Steel Market Update likes to review the transcripts of the earnings conference calls between analysts and the steel mills to see what we can glean from the comments being made by the top executives at the mills. We found a number of items of interest in the U.S. Steel conference call.
USS Running at 90% Utilization Rate in U.S. Plants
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It has been a crazy 2024 so far for hot-rolled coil (HRC) futures!!! “It’s not crazy, it’s hot rolled.” This chart shows the steeply backwardated Midwest HRC futures curve on Jan. 3 plummeting between $186 to $241 in the front three months, evolving into the curve six weeks later on Feb. 12. CME hot-rolled coil […]
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Though steel prices continue to drop, more buyers are holding off on finalizing transactions.