The ferrous complex was weaker across the board in November. Iron Ore spot dipped below 100 down to 87 in the middle of November but recovered back to 100 at the end of the month to average 95. Declines in futures on the back of production cuts, falling steel demand and over supply of iron […]
December 3, 2021
The main themes for October were soaring energy costs, falling iron ore prices, divergence between longs and flats and the US replacing Section 232 tariffs. Iron ore prices which have been on an uptrend since late 2018 due to firm Chinese demand, lost 8% value during the month. Improving steel mill margins since China’s steel […]
November 16, 2021
monthly report overview Iron ore surged to a high in mid-May, when spot prices reached $235. Prices since fell as China cut steel output in H2 to reduce output below 2020s 1.065 billion mt to reduce both pollution and energy usage. Freight rates hit 13 year high on Monday 1st October as the Baltic Dry […]
October 8, 2021
Monthly report overview Ferrous futures complex was generally weaker across the board in August with Iron Ore once again sold off, losing 25% MoM (Month-on-Month) to 159 and Turkey Scrap -6% MoM to 454, whilst HRC US bucked the trend and maintained its upward trajectory to 1,889 +5 % MoM. August China net steel exports […]
September 14, 2021
monthly report overview Ferrous complex saw inputs of scrap and iron ore fall whilst semi-finished HRC and Rebar were higher. Notably Iron Ore was sold off losing 18% value over July. Turkey Scrap was weaker losing 6% as supply wasn’t tight and dockside stocks grew in Europe and US. Demand was quiet around Eid. Futures […]
August 9, 2021