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Forecasts and Latest on Premiums (August 9, 2023)

1. ALERT! – US BILLET. MAY NEVER BE THE SAME: US offshore billet imports plunged... % y/y in July on structural factors (From August 7).

2. ALERT! – EUROPE WIRE ROD. AMPLE AVAILABILITY: European wire rod premiums vulnerable to lower levels (From August 1).

3. ALERT! – EUROPEAN BILLET. BILLET DOWN TO $... : European billet premiums decline to as low as $... per mton (From August 4). Regional spot billet premiums weaken to the lowest level in over two years as demand contraction extends and oversupply pushes suppliers to become more aggressive in their offers. Contractual negotiations for Q3 are practically over, with the bulk of monthly contracts for September closed. To see our full European Billet Market Intel and Premiums assessment, please subscribe to HARBOR’s specialized European Billet Intelligence Report.