Steel Products
Hot Rolled Futures Rise Slightly During the Summer Lull…
Written by Bradley Clark
August 16, 2013
It seems that the August month has brought with it a true summer lull. Trading volumes have been very low in the HRC futures market the past couple of weeks as many traders seem happy to sit on the sideline and await what the Autumn has to bring.
The forward curve has risen ever so slightly over the past week as the physical market seems to be holding for the time being. However, there is definitely a feeling of the market coming off being a question of ‘when’ rather than ‘if’. For now the curve remains backwardated with Q4 trading between $620-628 per ton and the cal 14 value around $617.
It is hard to say much more as prices are relatively unchanged, bids and offers in the market are more indicative than firm this week and little news in the underlying market have conspired to create a wait and see atmosphere in the Futures space.
Bradley Clark
Read more from Bradley ClarkLatest in Steel Products
Northwest Pipe changes name to NWPX Infrastructure
Northwest Pipe changes name to NWPX Infrastructure.
Tariffs, ample domestic supply cause importers to shift or cancel HR import orders
Subdued demand is causing importers to cancel hot-rolled (HR) coil orders and renegotiate the terms of shipments currently enroute to the US, importers say. An executive for a large overseas mill said customers might find it difficult to justify making imports buys after US President Donald Trump doubled the 25% Section 232 tariff on imported steel […]
Drilling activity slows in the US, grows in Canada
Oil and gas drilling activity was mixed this week, according to Baker Hughes. US totals slipped for a sixth straight week, while Canada saw a slight bump in activity.
Commerce finds no Korean OCTG shipments below market value
US Department of Commerce (Commerce) review found no South Korean oil country tubular goods (OCTG) exporters or producers sold products below market value
Drilling activity slows further in US and Canada
Oil and gas drilling activity declined again this week in both the US and Canada, according to Baker Hughes.