Steel Products
August 9, 2013
Written by John Packard
Every so often it is interesting to just review the comments made to Steel Market Update (SMU) during our steel market survey. Occasionally we can catch a raw gem. In the comment below a large Midwest based service center discusses their service center spot business (supplying steel from one service center to another):
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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.