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

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January 2009 | Galvanized Steel and Tinplate Market Tracker


Quiet start to New Year HDG markets:European Market Highlights


Typically, the New Year started off with a round of ordering as the market picked up after a quiet December, but this January we have seen little of this usual activity.

Typically, the New Year started off with a round of ordering as the market picked up after a quiet December, but this January we have seen little of this usual activity. Part of the reason is the arrival of significant import tonnage ordered in November, and now being processed through the distribution system that we noted last month. Fundamentally, however, it is weak end-use activity that is curbing order levels, resulting in plentiful inventory, short lead times and ongoing aggressive offers from producers. Production cuts during the fourth quarter do not appear to have reduced output to below the level of demand. The optimistic view that a combination of output cuts, which would reduce inventory, together with easier credit conditions, which would justify further buying, is not yet in place. Spot prices largely unchanged European producers are still offering HDG with short lead times, and even from stock, at around...

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