Steel Products
November 1, 2017
Written by Tim Triplett
China is cracking down on air pollution, which worsens during the winter heating season. Chinese steel producers are feeling the pressure from the government to scale back production in the next few months.
Reuters reports that growth in China’s steel industry fell to a six-month low in October as a government crackdown on winter air pollution sent raw materials prices and new orders downward.
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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.