Steel Products
August 25, 2022
Written by Becca Moczygemba
The pulse on this year’s service center health check at SMU’s 2022 Steel Summit was strong. Despite challenging and unpredictable times, service center CEOs remain positive.
“It’s challenging, but we’re optimistic. This industry is old and immortal,” said Edward Lehner, president and CEO of Ryerson, speaking on a Summit panel.
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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.