Hot rolled coil heats up
Some producers’ offer prices from late last week are now at least €900 ($1,060) per metric ton exw. Meanwhile, delivery times extend as far out as October, market participants said.
Cold rolled coil is on offer for €980 ($1,155), they added.
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“It’s impossible to get anything before June,” one trader said.
Hot rolled coil offers in mid March reached €850-900 ($1,000-1,060) for May rolling and June delivery. However, traders warned then that the price and lead times were not certain and could rise further.
Import offers for hot rolled coil are now $900-910 cost and freight (CFR) for European ports. That is up from $890-900 transacted earlier in March for material from India and Japan, respectively for May and June delivery, sources also noted.
The
Global Precious Monthly Metals Index (MMI) gained 1.5% for this month’s index value, as the gold price has lost some of its gains from the summer.
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Gold price gains
MetalMiner’s Stuart Burns recently checked in on the gold price and where it might be expected to go in 2021.
As precious metals watchers know, the gold price has enjoyed a sharp rise this year amid the global pandemic.
“The bulls are predicting a resurgence in the price to U.S. $2,300 per troy ounce in 2021,” Burns wrote.
Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner
The
Raw Steels Monthly Metals Index (MMI) rose by 7.8% for this month’s reading, as steel prices continued to rise.
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Steel price gains slow
As we’ve chronicled in this monthly column, steel prices have been rising consistently since last summer.
Buyers have struggled to find supply in what eventually became an allocation market.
Steel prices have posted double-digit percentage gains on a month-over-month basis. However, that ascent appears to be slowing somewhat.
Supportive of the already surging iron ore price, the Pilbara Ports Authority cleared the Port of Port Hedland on Thursday amid incoming gale force winds.