December 23, 2019
Executive Summary
1. (From December 17). US BILLET ALERT. US spot billet demand muted amid slow seasonality; plenty of unit availability keeping spot premiums in check at multi-year lows.
2. (From December 19). EUROPEAN P1020 ALERT. European P1020 premiums strengthen from ten-month lows; more upside seen.
3. (From December 20). EUROPEAN BILLET UPDATE. We see spot premiums increasing in Q1 2020 amid higher LME prices, Rotterdam duty-unpaid premiums, and at least a slight pick-up in demand.
4. (From December 18). BRAZIL P1020 PREMIUM ALERT. P1020 premiums hovering at multi-year lows amid weak market demand and practically nonexistent spot activity.
More details in full report.