• MetalMiner December webinar

    What will 2022 hold for metal and metals buyers? See what predictions the MetalMiner team has for the coming year!

  • MetalMiner 2022 Annual Outlook

    Available NOW: the U.S.-centric annual buying guide for informing 2022 metal purchasing strategies.

  • MetalMiner Newsletter

    You want even more intel on current metal prices and news (who wouldn’t?). Look no further than our Gunpowder newsletter.

  • MetalMiner Weekly Emails

    Stay up-to-date with ongoing insights and updates with the MetalMiner weekly email.

  • Allocation Market

    The dreaded ‘A’ word connotes something far worse for many metal buying organizations. Are you struggling to find steel in this market?

Lower auto sales in Europe have put West European hot rolled coil prices under pressure. However, demand from construction is nonetheless helping to support prices for the flat-rolled product.

“People want to invest their money into something,” one trader source told MetalMiner.

We’re offering timely emails with exclusive analyst commentary and some best practice advice. 

Hot rolled coil prices slide

hot rolled coil steel

taitai6769/Adobe Stock

ArcelorMittal had originally sought €1,080 ($1,210) in November. While that price remains the Luxembourg group’s official one, transactions have taken place at lower levels.

Large-volume transactions have occurred in November at €980-1,000 ($1,095-1,120) per metric ton exw for delivery in January, the trader said.

Transactions for smaller volumes €1,050 ($1,175), the trader added.

Imports from Russia and Turkey have transacted at an average of about €865 ($970) per ton cfr Europe, the trader noted.

Auto registrations slow

New automobile registrations in the European Union totaled 665,000 units for October. That marked a drop of more than 30% year over year from 950,000 units, the European Automobile Manufacturers Association (ACEA) said Nov. 18.

(more…)

While you may be busy putting the finishing touches on your Thanksgiving spread and, subsequently, taking a turkey-induced nap, you might find some time to revisit this week’s coverage, including oil prices, global crude steel production and much more.

Thanksgiving

Alexander Raths/Adobe Stock

But first, in case you missed it, MetalMiner is hosting its final monthly webinar of the year at 10:00 a.m. CDT, Wednesday, Dec. 8. Metal buying organizations will not want to miss it, as the MetalMiner team will delve into price predictions for 2022. For more information about the webinar and to sign up, those interested should visit the MetalMiner Events page.

Elsewhere, MetalMiner also recently launched a suite of precious metals within the MetalMiner Insights platform. In addition to gold and silver, the suite includes platinum and palladium (of particular relevance to the automotive sector), plus rhodium, iridium and ruthenium.

Without further ado, here’s a recap of this week’s coverage:

We’re off today and tomorrow but will resume regular coverage Monday.

But for now, we wish you a Happy Thanksgiving, MetalMiner readers!

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