Steel Products
February 27, 2013
Written by John Packard
Question is can TK get two or more mills in a bidding war?
Our sources advise SMU that the binding bids for the ThyssenKrupp Americas plants (Calvert, Alabama and CSA in Brazil) – the ones which truly count – are to be submitted by the end of this week. There are a number of prospective bidders: CSN, USS/JFE, ArcelorMittal/Nippon, Nucor, Ternium and Posco.
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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.