CME HRC Steel futures continue to slide. |
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The December ’21 HRC contract last settled at $1616/T, and has slid nearly $65/T in the last four weeks. Argus cites seasonal shutdowns and buyer hesitancy for the dip in prices. Due to ample inventories, there are also concerns that spot steel purchases might not rebound once the new year begins. (12/9/2021) |
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Note: Clients with AEGIS Platform access can see this and other research, plus hedge portfolio reporting and tools here. |
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Price Indications |
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Today's Charts |
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AEGIS Insights |
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11/30/2021: Section 232 Tariffs: Most relevant developments (AEGIS Reference) 11/30/2021: Will the Omicron COVID Variant Impact South African Metals Production or Exports? 11/24/2021: AEGIS Factor Matrices: Most important variables affecting metals prices |
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Important Headlines & Economic Data |
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AISI Steel Capability Utilization Rate Investing.com Economic Calendar 12/9/2021: Evergrande has defaulted on its debt, Fitch Ratings says 12/7/2021: FEATURE: Copper market to be well supplied in 2022 12/8/2021: Landsvirkjun Reduces Power Delivery to Large Users 12/7/2021: US HRC: Prices resume downward slide 12/7/2021: FEATURE: Copper market to be well supplied in 2022 12/7/2021: Copper price up as China imports rise 12/7/2021: Aluminium prices may gain next year on demand, supply concerns 12/6/2021: China Evergrande shares plunge as it teeters on brink of default 12/6/2021: China frees up $188 billion for banks in second reserve ratio cut this year |
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| Important Disclosure: Indicative prices are provided for information purposes only, and do not represent a commitment from AEGIS Hedging Solutions LLC ("Aegis") to assist any client to transact at those prices, or at any price, in the future. Aegis makes no guarantee to the accuracy or completeness of such information. Aegis and/or its trading principals do not offer a trading program to clients, nor do they propose guiding or directing a commodity interest account for any client based on any such trading program.
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