US steel market maybe on a merge of recovery
While 2019 has clearly been a very challenging year for just about everyone in the steel supply chain, there are some early indications that things are starting to turn around at least modestly. This is being helped by expectations that scrap prices have finally bottomed out and hopes that steel buyers could become somewhat less cautious, especially if, as some hope, trade negotiations between the US and China are fruitful. However, given recent slower US and global economic growth and concerns about manufacturing activity, it is possible that average 2020 steel prices could be subdued -- possibly below those for 2019
Beyond the Tipping Point: Steel Futures Turn a Corner
No one expected steel futures to steal the spotlight from and outshine the physical market overnight. It simply was not on the cards. Too much tradition, too many entrenched commercial relationships, too diverse a product mix, and too little familiarity with the dynamics of the futures market and exchange trading.