Research

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

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June 2009 | Galvanized Steel and Tinplate Market Tracker


Buyers still wary of purchasing material: American Highlights


Manufacturing in the USA shows growth in new orders

Current HDG prices for 1mm material with a G90 coating are around $570-580/ton ($628-639/tonne) on an ex-works Midwest basis. Despite the drop in prices this represents, buyers are still staying on the sidelines of the market. Anecdotal evidence suggests that bigger buyers are staying out of the market as there is a belief that mills will continue to lower prices.

Steel inventories at lower levels...

Inventories declined by 9% in April, from 4.2m tons to 3.7 million tons, despite the fact that shipment volumes declined also. Data from the MSCI suggests that U.S. service centers shipped around 1.4m tons of steel which is around 3% less than in March and 45% below April 2008 shipments. Service centers are holding 2.9 months of supply in April which is a small drop from 3 months in March however this is still significantly higher than the 2.2 months in April 2008....

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