Research

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

Change font size:   

October 2019 | Galvanized Steel and Tinplate Market Tracker


US HDG prices continue to tumble; further downside likely: American Market Highlights


All indications are that US HDG prices have not reached the bottom yet. In fact, we expect that prices will not bottom out – probably at about $650/ton or perhaps even lower – until sometime in November at the very earliest.

US HDG prices fall to a three-year low On the back of slipping end-use demand, increasingly negative sentiment about US economic health – particularly in the manufacturing sector – and declining scrap prices, US HDG prices have tumbled to their lowest levels since October 2016, falling to $680-710/short ton from $740-750/ton a month ago. All indications are that US HDG prices have not reached the bottom yet. In fact, we expect that prices will not bottom out – probably at about $650/ton or perhaps even lower – until sometime in November at the very earliest. This is largely because of our expectations that scrap prices will continue to decline at least slightly more next month. That said, it is very likely that domestic mills will float a price hike sometime in the next several weeks in an attempt to establish a pricing floor even earlier than that. But we doubt...

ACCESS RESTRICTED

You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.


SUBSCRIBE


Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.

Subscribe


Already subscribed?