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Due to shrinking demand, excess supplies, and rising inventories, Stelco CEO Alan Kestenbaum believes steel prices are a “falling knife.” These comments after Mr. Kestenbaum several weeks ago stated that the Omicron variant has increased employee absenteeism for Stelco and its customers. Prompt month CME HRC (hot rolled coil) prices are down nearly $500/T, or approximately 26%, since late August 2021. (1/24/2022) |
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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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01/10/2022: Section 232 Tariffs: Most relevant developments (AEGIS Reference) 01/05/2022: AEGIS Factor Matrices: Most important variables affecting metals prices 11/30/2021: Will the Omicron COVID Variant Impact South African Metals Production or Exports? |
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Important Headlines & Economic Data |
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AISI Steel Capability Utilization Rate Investing.com Economic Calendar 1/19/2022: Antofagasta says Chile water shortage to hit 2022 production |
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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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