Analysis
August 30, 2024
Written by David Schollaert
Steel Market Update will be taking time off in observance of Labor Day.
We will not publish an issue on Sunday, Sept. 1, and our offices will be closed on Monday, Sept. 2.
Our weekly pricing service will not be impacted.
We will resume our regular publication schedule and our pricing service on Tuesday, Sept. 3.
You may have heard about traders “canceling” metal on the London Metal Exchange and shipping it out. Here's a guide to understand that process.
The downward trend in Chinese steel export prices continued over the past month, as domestic demand in the country failed to recover following the Golden Week holidays.
In the month since my last column, the tides have started to turn – and as usual it wasn’t the physical market that moved first.
Most steelmaking raw material prices remained stable over the past month. Prices are mixed in comparison to this time last year.
Domestic plate market participants anticipate strong economic growth in the first quarter of 2026, which they say is the perfect reason for spot market price hikes now.