February 24, 2020
Executive Summary
1. US BILLET UPDATE. US billet imports plummet in January at record pace, but there is more to it than what meets the eye. (From February 17).
2. US MW PREMIUM UPDATE. MW P1020 premium down to fresh two-year lows; rail blockades in Canada have made no difference so far. (From February 19).
3. US WIRE ROD ALERT. US EC rod spot premiums up to as high as… cent/lb due to supply hiccups. (From February 21).
4. EUROPEAN BILLET UPDATE. Global billet oversupply weighs on European premiums; Q2 contractual billet premiums under pressure. (From February 21).
More details in full report.