Steel Products

MetalMiner Rejoins Commodities Panel
Written by Tim Triplett
August 2, 2017
Bringing a different perspective to SMU’s Steel Summit Conference later this month will be Lisa Reisman, who will touch on the related topics of copper, zinc and aluminum. Reisman, co-founder and executive editor of MetalMiner, will make her third appearance as a speaker at SMU’s conference at 10:35 a.m. on Tuesday, Aug. 29, as part of the commodities panel.
Previewing her remarks at the conference, Reisman says MetalMiner has changed its outlook on zinc. “Although industrial metals as an asset class remain bullish, MetalMiner has shifted its long-term commodity outlook to bearish. Zinc prices, though they reached a three-month high in July, have not breached MetalMiner key resistance levels. Moreover, trading volumes do not appear to support buying sentiment (and therefore upward price momentum).”
MetalMiner sees some indicators that suggest aluminum may be forming a “price top” and may struggle to continue moving higher. Prices moved a bit sideways in July, despite some strong price moves for other base metals, Reisman notes.
Copper is poised for a correction, she predicts. “Despite the big increases in copper prices during the final days of July, MetalMiner sees a copper price correction in August or September. Buying organizations had a good opportunity to buy long-term forward in May. They can take a wait-and-see approach until the trend is clarified.”

Tim Triplett
Read more from Tim TriplettLatest in Steel Products

ISM: Manufacturing growth down again in April
Activity had trended up for most of Q1

EU HR prices gain ground on US, Asian HR still well behind
Section 232 returned on March 12, and since then, the price gap between offshore and US hot band has tightened.

SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]

SSAB announces $74M expansion in Alabama
The project will expand heat treat capacity at its Axis, Alabama plant

Service centers: Mill orders retreat in March
SMU’s Mill Order Index declined in March after repeated gains at the start of the year, according to our latest service center inventories data.