Executive Summary
USA
1. (From December 11). CME MW duty-paid financials for H2 2020 drop to a twenty- month low of 15.10 cent/lb.
2. (From December 11). US PFA ALERT. High end of US PFA spot ingot premiums declines further due to reigning oversupply. Price differential between PFA tee and ingot continues to dissipate.
3. (From December 9). US WIRE ROD ALERT. Some large consumers refuse to accept the… cent/lb premium hike accepted by some smaller players. Canadian wire rod production set to expand in 2020 and reduce domestic shortage.
EUROPE
4. (From December 11). EUROPEAN BILLET UPDATE. Spot premiums fall farther in Spain and the UK; premiums expected to bottom-out soon; some secondary billet producers almost at a standstill.
More details in full report.