September 2008 | Galvanized Steel and Tinplate Market Tracker
HDG prices drop significantly: American Market Highlights
The US flat steel market is now definitely slowing down and demand for coated coil products appears to have weakened significantly – more, perhaps, than for other flat products.
The US flat steel market is now definitely slowing down and demand for coated coil products appears to have weakened significantly more, perhaps, than for other flat products. Given market conditions in the US construction and automotive sectors, this is hardly surprising. The construction and car industries account for the majority of end-use demand for HDG. As decline in both these areas has accelerated since June, the outlook for coated steel pricing is weak.
...and mills foresee reduction in output
MBR believes that US steel mills will have to reduce their output throughout the fourth quarter to support prices. ArcelorMittal has alluded to the possibility of cutting output by up to 15% in order to stabilise the market. Imports, which have been low this year by previous years standards, are likely to dwindle to next to nothing in coming months.
Domestic spot prices fall by as much as $100/tonne...
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