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Packaging
Steel & Aluminium
41
The CME's US steel hot-rolled coil (HRC) price decreased by 12.2% m-o-m and 57.4% y-o-y, to a monthly
average price of USD 886/MT in August. The price decrease was attributed to a slowdown in demand. The
Midwest HRC lead times were flat at 3-5 weeks. In August, the Northern Europe steel HRC price decreased by
4.8% m-o-m and 33.6% y-o-y, to EUR 801.3/MT, due to weaker demand as the automotive industry is dealing
with parts shortages. According to market participants, most purchasers had sufficient inventories and were in no
rush to buy HRC.
In August, the LME aluminium (3-month) price decreased marginally by 0.7% m-o-m and by 6.8% y-o-y, to a
monthly average price of USD 2,424/MT. The price decrease was attributed to recession fears, now the dominant
theme in industrial metals, as surging energy prices translate into a manufacturing slowdown. In addition, the offseason
on the demand side has not yet ended, coupled with accumulating aluminium stocks. According to market
sources, aluminium prices may increase over the medium term due to a surge in demand for green investments.
*Steel HRC - USD/MT & EUR/MT
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
300
550
800
1,050
1,300
1,550
1,800
2,050
2,300
300
500
700
900
1,100
1,300
1,500
HRCN - Steel HRC (CRU) CME US (DH-0) 1K01 - Steel HRC dom exw N Eur (right axis)
Aluminium LME - USD/MT
Aug 20 Nov 20 Feb 21 May 21 Aug 21 Nov 21 Feb 22 May 22 Aug 22
1,300
1,700
2,100
2,500
2,900
3,300
3,700
LN02 - Aluminium 3m LME
*Delivery horizon 0 (DH-0)