Steel Products
November 4, 2021
Written by Michael Cowden
United Auto Workers (UAW) members at John Deere have again rejected a tentative labor pact agreed to by union and company negotiators.
Approximately 55% of UAW members voted to reject the proposed six-year labor agreement. Only 45% voted in favor of it.
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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.