Steel prices still have lower to go

While Hot Rolled Coil Steel prices have mean reverted (and then some), I think there are lower prices to come.

This goes for the Midwest North American and Northern European versions.

(charts below)

it’s good for buyers of finished product,

and worrisome for the producers.

The normally correlated equity prices of #steel companies are disconnected,

I’d insist that they, too, decline commensurately.

April 23, 2024

by Rob Zdravevski

rob@karriasset.com.au

#HRC