Steel Products
March 11, 2013
Written by John Packard
Based on the results from this past week’s steel survey, demand remains relatively stable with 70 percent of our respondents (all companies) reporting demand as “remaining the same.” The number of companies reporting demand as “improving” dropped from the low to mid 20 percent range down to 15 percent. Those reporting demand as “declining” increased to 15 percent.
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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.