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AEGIS is attending the Harbor Aluminum Summit at the Radisson Blu Aqua Hotel in Chicago on June 7 – 9. If you would like to schedule a meeting during the summit, please contact Patrick McCrann at pmccrann@aegis-hedging.com or (713) 936-2806.
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The Russian steel industry was the fifth-largest in the world in 2021 at around 76 MM tons, behind only China (1,032 MMt), India (118.1 MMt), Japan (96.3 MMt), and the United States (86.0 MMt), according to WorldDatabase. The sanctions resulting from Russia's invasion of Ukraine in February 2022 have upended the global steel markets supply chains. If you total Ukraine and Russia's steel production, they would rank as the second-largest steel producer behind only China. So far, it seems that commodity trading companies have found a way to move commodities across global markets. Still, discount demands have escalated as rising costs for coal, freight rates, shipping & insurance costs, and a stronger Rouble make some sales unprofitable. If Russian producers decide to halt operations rather than operate at a loss, the impact could be huge for commodities markets, particularly steel. The loss of that supply in global markets would likely send prices higher and further pressure manufacturers' margins. (5/27/2022) |
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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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Today's Charts |
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AEGIS Insights |
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05/23/2022: India's Steel Exports Tariffs Shock Producers 05/18/2022: AEGIS Factor Matrices: Most important variables affecting metals prices 05/11/2022: China's Metals Exports are on the Rise |
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5/24/2022: Nickel market to swing to mild surplus persisting beyond 2022: Nornickel 5/23/2022: India raises export duty on iron ore, Chinese reception mixed 5/23/2022: Moody's says increase in India's export duties on iron ore, pellets to raise costs for steel mills 5/22/2022: Indian steelmakers face hit on Europe deals over export tax, Jindal executive says 5/21/2022: Work suspended at Botswana's Khoemacau copper mine after accident kills two |
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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. Certain information in this presentation may constitute forward-looking statements, which can be identified by the use of forward-looking terminology such as “edge,” “advantage,” “opportunity,” “believe” or other variations thereon or comparable terminology. Such statements are not guarantees of future performance or activities.
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