Research

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

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November 2009 | Galvanized Steel and Tinplate Market Tracker


HDG prices in reverse: American Market Highlights


After peaking in October, coated steel prices are again trending lower

Coated steel markets managed to maintain upward momentum longer than for other sheet products, supported by the revival in buying by auto parts makers, but prices have now shifted into reverse in the HDG market as well. Domestic HDG prices have slipped from $780-810/ton last month to around $770/ton in the first half of November. The downward trend in prices will continue through the remaining weeks of the year. With demand already struggling, the seasonal downturn associated with the upcoming holiday season will only serve to further dampen the market. Scrap prices are in decline, eliminating cost-push pressure for mini-mill steelmakers, enabling them to reduce prices while maintaining margins. Meanwhile, domestic mills continue to ramp up capacity, with US mills boosting average operating rates to over 60% in October. In MBR’s view,...

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