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Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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July 2012 | Galvanized Steel and Tinplate Market Tracker


HDG price hikes gain momentum East and West of the Rockies: American Market Highlights


US mills rush to establish a pricing floor for coated steel, its affect will be realised in August.

A move early in July to establish a pricing floor at a level where steelmakers could remain profitable seems to have worked better than many expected both on the east and west coasts of the United States. When Severstal North America NLMK USA first announced their intention to increase base prices for HDG and other flat-rolled sheet prices by a minimum of $40/short ton it was met by strong resistance. That wasn’t surprising as it came shortly after it became apparent that ferrous scrap prices would see as steep declines as they had seen in June and the well-watched Institute for Supply Management’s June manufacturing purchasing managers’ index fell into negative territory for the first time since July 2009.

Nevertheless as the ranks of US steelmakers following this move – including such big names as...

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