Research

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

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April 2019 | Galvanized Steel and Tinplate Market Tracker


Prices, margins hold up amid substantial demand revival: Asian Market Highlights


When it comes to metallic coated (excluding organics such as PPGI) exports from China, more than 94% of which are hot-dipped galvanized (HDG), the EU is only second to the ASEAN region so far this year and accounts for 19% of Chinese exports.

Our bearish outlook for coated prices in Asia, emanating from China, has yet to come to pass. In fact, Chinese galvanized assessments for the Shanghai (ex-warehouse) market are now even higher than assessments in southern Europe (see chart). This is even after sales taxes have been removed and is a first in this regionally dynamic market since the first week of January 2017. The average differential (EU premium) in this comparison since January 2014 is somewhat misleading, given the importance of volatile, different dynamics in both price series, but is nevertheless understandable at just over $70 per tonne. This makes sense given the not included costs...

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