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Kallanish Kallanish

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December, 13th 2019

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Kallanish Steel Weekly: Coil prices globally moving up after long-lasting decrease (12 Nov 2019)

After a long period of decreases across the globe, hot-rolled coil prices are finally recovering in most markets. The recovery was first initiated in mid-October in Turkey and North America, as a direct consequence of the pickup in scrap prices.

Turkish prices recovered some $20/tonne in two weeks since mid-October, while so far in the Northern American market mills’ attempts at increases have materialised in a $15/t recovery according to Kallanish.

Last week the positive sentiment spread out into most other markets as Chinese sentiment picked up and CIS mills started to implement price increases. In Europe, nevertheless, sentiment remained relatively negative despite producers starting to assess the possible impact on supply of the announcement of ArcelorMittal regarding Ilva.