Spot premiums dip, 2017 contract premiums off 2?/lb from 2016

摘要

Offshore billet continues to come into the USA, adding supply to an already ample inventory and pushingthe spot billet premium down in the process. Even so, CRU understands that the pressure to sell issoftening a bit as the Midwest premium has been rising. As MWP continues to rise, traders feel they maybe able to sit on it and get a higher MWP next month. Two months ago this wasn’t the case, as pressureto sell was still high.