July 2012 | Coated Steels
Signs of US market reaching bottom: Global tinplate market highlights
Markets await a meaningful resolution to the problems in the euro zone.
The brief flurry of precautionary ordering that breathed life into the US tinplate market when became clear that RG Steels difficulties at Sparrows Point were terminal has passed. There is, however, a new impetus affecting all US steel markets; after months of retreat there have been signs that prices in general have hit bottom and are recovering. Ever-ambitious coil mills announced list price rises of $2/UScwt ($44/tonne) in June and service centres acknowledge that they have had to pay at least a proportion of the increase.
Given the special features of tinplate production and its applications, there is not a close relationship between ordinary coil prices and tinplate prices, but a turnaround at the core of the steel market signals that it is time to re-stock or buy ahead. The question is how much re-stocking already took place as precautionary buying ahead of the...
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