More evidence of 'liftoff'. Fed (to them) behind the curve.
International flat steel product selling figures have been on an upward trend throughout 2016. Substantial hikes are anticipated when negotiations between mills and customers are concluded, in December. Further strong gains are likely in the first quarter of 2017.
Spot coking coal prices have more than tripled to top US$300 per tonne in recent months, while iron ore values are fluctuating in the US$70-80 per tonne range. Due to the large rises in raw material expenditure, steelmakers are making concerted efforts to lift their selling figures.