Steel Products
August 27, 2022
Written by Becca Moczygemba
Stelco Inc. CEO Alan Kestenbaum got candid with Steel Market Update’s (SMU) Michael Cowden during the third fireside chat of the 2022 SMU Steel Summit conference. This year was Kestenbaum’s first time speaking at the Summit.
Forecasting For the Near Future
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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.