Amid imports targeting the U.S. market and inventory destocking planned by customers, analysts at Bank of America Merrill Lynch trimmed their Q4 2016E US HRC spot price estimate by $50 and also trimmed their H2 volume assumptions. Timma Tanners and team said in their September 15 research piece titled “Cutting U.S. steel mill H2 ests on lower steel price outlook as imports are back” that they believe the widening price gap between the U.S. and the rest of the world for premium sheet will be unsustainable. BAML lowers sheet forecast for Q4E Tanners and colleagues highlight that benchmark U.S. hot-rolled…
BAML Trims Steel Price Forecast Amidst Deteriorating Market Conditions
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports