January 2019 | Galvanized Steel and Tinplate Market Tracker
US HDG market fails to see its usual January price bounce: American Market Highlights
All indications are that underlying HDG demand is holding up, at least for the time being.
US HDG market continues to search for its pricing floor
While underlying demand has been holding up, the general air of uncertainty about what the future will bring continues to exert downward pressure upon the US HDG market and has, at least for the time being, thwarted mill attempts to raise prices. In fact, US base prices have continued to fall, moving down to $800-820/short ton from $860-900/ton a month ago, which is already over $200/ton lower than the July peak. And we believe that they could even slip slightly further from their current levels, possibly to as low as $780/ton in coming weeks, where they could stabilize, especially if the mills float a price hike, which we believe they could do late in January or early February. But, given current market dynamics, it is unlikely that any such move will do anything but establish a pricing floor. ...
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