OUTLOOK: Uptrend in long steel market to continue in Q1, further prospects unclear, Irepas says
The prospects for the global long-steel market for the first quarter of 2021 remained rather optimistic, with upward momentum in pricing expected to continue, supported by short supply, although the outlook for the second quarter was unclear, the International Rebar Producers & Exporters Association (Irepas) said last week.
Overall, regional markets across the globe performed well in the fourth quarter of 2020, with prices hitting historical peaks in some regions, pushed by good demand and increasingly short supply.
The supply tightness in Europe’s long steel products market was expected to persist in January-March 2021, exacerbated by maintenance outages at key producers.
Mills book more deep-sea cargoes; prices remain firm
Turkish steel mills have continued to book deep-sea scrap cargoes from various locations at firm prices, sources told Fastmarkets on Monday January 11.
A steel mill in the Iskenderun region booked a United States-origin cargo comprising HMS 1&2 (90:10) at $485 per tonne, and bonus and shredded at $492 per tonne cfr.
US hot-rolled coil index on the cusp of $54.50/cwt
Hot-rolled coil prices in the United States resumed their historic climb on Monday January 11 after inching lower on Friday January 8.
Fastmarkets’ daily steel hot-rolled coil index was calculated at $54.49 per hundredweight ($1,089.80 per short ton) on Monday, up by 4.57% from $52.11 per cwt on Friday and 5.38% higher than $51.71 per cwt one week earlier
Bovenstaande berichten zijn van gister avond, de vraag naar staal blijft maar groeien en de prijzen blijven stijgen. Als Corona niet te veel roet in het eten gooit zal Mittal naar minimaal €25,- per aandeel gaan.