Research

Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

Change font size:   

February 2019 | North American Steels


US coal market participants join a bullish chorus: Raw Material Highlights


While the demand outlook for coking coal in the US is far from robust from our point of view – all new steel capacity investments melt scrap rather than burn coal - it was noticeable that sentiment among coal miners in Miami earlier this month, when we presented at the 19th Coaltrans Conference, was largely positive.

According to the CME Group’s US Midwest busheling futures contract, which is settled against Fastmarkets AMM prices, the price outlook is positive, with March and April both trading higher, by about $20 long ton, than what was settled earlier this month. We have a positive price outlook for US scrap prices for fundamental reasons, that as US steel production continues to revive, it will be scrap demand and therefore scrap prices that will benefit proportionately more than iron ore and in turn coking coal and coke.

While the demand outlook for coking coal in the US is far from robust from our point of view – all new steel capacity investments melt scrap rather than burn coal - it was noticeable that sentiment among coal miners...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?