Steel Market Update’s latest survey data reflects a consensus among steel buyers that sheet prices have bottomed out and might rebound.
Lead times continue to extend. Fewer sheet and plate mills are willing to negotiate lower spot prices. Seventy percent of survey respondents think prices bottomed out in October.
Also, 75% of respondents think that we’ll end the year with hot-rolled coil (HRC) prices above $700/ton (see Figure 1).
That’s somewhat remarkable considering that concerns lingered—especially ahead of the United Autoworkers (UAW) strike—that HRC could fall into the $500/ton range.
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
