1. ALERT! – US SLAB. OVERSUPPLIED AND DOWN: North American slab imports contract for the fourth-consecutive month in July, spot premiums down (From August 14).
2. ALERT! – EUROPEAN P1020. AS LOW AS $190: Rotterdam P1020 premiums drop to new lows (From August 10).
3. ALERT! – EUROPEAN BILLET. FALL CONTINUES: Q4 European billet premiums fall continues (From August 14). Early Q4 contracts fall to spot levels amid an oversupply of billet units and still contracting demand conditions. In our view, Europe’s billet demand and premium bearishness is expected to remain for the balance of the year. The spot market was quiet last week amid the summer break. To see our full European Billet Market Intel and Premiums assessment, please subscribe to HARBOR’s specialized European Billet Intelligence Report.