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Metals Meltdown

A Nightmare On Mill Street: global steel prices in autumn horror show

September 28, 2015 (10:43 mins)



Chris Davis, Peter Brennan, & Sebastian Lewis

In all good horror movies there's usually an unwilling victim, and in steel markets around the world it's prices that are being slashed. Our steel aficionados Peter Brennan, Chris Davis, and Sebastian Lewis discuss how in Europe prices have crashed in response to tepid demand and seriously competitive import offers. Meanwhile, over in China exports are up 20% year on year - and this has pushed hot rolled coil (HRC) prices further down, with many mills profitability being seriously impaired. The picture in the US is not much rosier, with markets 'unravelling' in recent weeks: HRC has seen $220 mt swing since September 2014, and despite a rise in construction, no trickle-down effect is being felt in steel.


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