Steel spread
Fundamental analysisThe steel price minus the cost of the iron ore and coking coal needed per tonne.
In plain terms
It largely decides a steelmaker’s profit per tonne, and both sides of it are set by global markets.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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