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

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July 2009 | Galvanized Steel and Tinplate Market Tracker


Prices rise month-on-month: Asian Market Highlights


Mills are pushing up their list prices for future deliveries, implying that traders and stockists are likely to push up their spot prices in order to liberate cash to place fresh orders. Yet anecdotal evidence suggests that end users are more reluctant to pay higher prices then was the case around a month ago.

Coated steel prices increased significantly over the last month in major Asian markets. Chinese prices were the strongest performer: month on month they increased by around Rmb500/tonne ($73/tonne). As we go to press, doubts are growing as to whether the rally in prices will continue for another month. Mills are pushing up their list prices for future deliveries, implying that traders and stockists are likely to push up their spot prices in order to liberate cash to place fresh orders. Yet anecdotal evidence suggests that end users are more reluctant to pay higher prices then was the case around a month ago.

...but markets could be running out of steam

Other factors that have favoured rising steel prices since May could be also be on the verge of changing. The price of iron ore imported to China, for example, has increased sharply this month, but that could change...

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