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

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October 2019 | Galvanized Steel and Tinplate Market Tracker

Prices drop to 2009 levels following large cuts: European Market Highlights

Above all, the slowdown is being caused by uncertainty and slowing trade growth, which shows little sign of reversing course in our view.

Last month, prices of most coated steel products slipped by some €10-15/tonne across most key global markets. This month, the falls have been even more severe, with prices dropping by around €45-50/tonne from mid-September levels. Average prices of hot-dipped galvanized coil (HDG) in Europe now sit at just €495/tonne ex-works, similar to the depths reached during the global financial crisis around a decade ago and heading towards the lows seen during late 2015. So much for the price hikes hoped for by Europe’s leading steelmakers as 2019 comes to a close. That prices have slipped by similar amounts across both Asian and American markets during the past couple of months illustrates how steel markets are responding to global concerns, primarily around demand growth. Recently-released figures show that Chinese GDP growth slowed to just 6% year-on-year during Q3 for instance, the slowest rate in almost 30 years, with forecasts...


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