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The prospect of more than 5 million tons of additional flat-rolled steel production starting up in the United States by the end of this year has convinced some market participants that the current run of all-time record-high sheet prices must come to a screeching halt by summer.
Fastmarkets is proposing to reduce the frequency of its two low-volatility lead premiums for Southeast Asia to monthly from their current bi-weekly basis.
With Greater China on holiday, base metals trading on the London Metal Exchange has been quiet this morning, Friday February 12, with prices little changed and trading volumes light – but so far prices are holding up in high ground.
Demand for steel in the European Union is expected to rebound by 13.3% year on year in 2021 after a 13% slump in 2020, the European steel association Eurofer said this week.
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