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Metals Meltdown

Money makes the mills go round: China's currency woes impact global steel complex

August 28, 2015 (11:08 mins)



Chris Davis, Peter Brennan, & Sebastian Lewis

Well, so much for 'silly-season' in the steel industry: Peter Brennan, Chris Davis, and Sebastian Lewis outline how no steel grade seems to have escaped the effect of the faltering economic conditions in China, with 'Black Monday' looming large over the outlook for the rest of the year. As well as discussing the merits of baseball versus cricket and the impending split of One Direction, they analyse the effect of the Yuan depreciation on the European hot rolled coil markets and on the US scrap and HRC markets. Furthermore, they highlight that for US sheet producers the long term solution to push prices up may lie in the filing of trade cases to limit traders in landing new import orders.


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