Research

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

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March 2013 | Galvanized Steel and Tinplate Market Tracker


Mills get less of a price hike than they had hoped for: American Market Highlights


While not necessarily destocking, distributors are being very cautious about buying any more steel than they absolutely have to.

US HDG mills had hoped that with ferrous scrap prices rising $35-$45/long ton in March and end-use demand improving that they would be able to get much of the $50/short ton base price increase through. However, given less strength than expected in the construction sector and continued short lead times and oversupply, they have only been able to bring their pricing up to around $820/ton including G90 coating extra on a 1mm thick coil and even much of that is being lost in the discounting deals being made to coax deals from customers who are fearful that prices will slip back down amid rumors that scrap prices will fall back in April.

The price hike was led by US Steel and was quickly followed by AK Steel, Nucor, NLMK USA, ArcelorMittal USA and Severstal North America.

Service centres fear being caught with high-priced inventories

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