August 2010 | Galvanized Steel and Tinplate Market Tracker
European mills reduce prices to secure bookings: European Market Highlights
Despite considerable efforts from European mills to lower their prices, they are stil out-priced by Turkish and Indian steel.
At the end of July, European mills reduced their prices for hot dipped galvanised steel (HDG) in order to secure bookings. We have been told that booking for HDG were made at 640-660/tonne delivered, down from offers of 650-690/tonne delivered four weeks ago. Additionally, although we have heard that smaller mills are offering material at around 610-630/tonne, we have not heard of any bookings at these levels.
It is evident that these price decreases are due to a decline in European demand. The feeling we get from HDG customers is very much one of wait and see, as the expectation is that prices could fall further over the next...
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