Research

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

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January 2010 | Galvanized Steel and Tinplate Market Tracker


Strip prices driven higher by raw material price gains: American Market Highlights


Scrap prices rose again in January by around $45/l.ton and prices pushed up again.

The increase in ferrous scrap prices continues to be the driving force behind price gains in the US strip product market. However, mills are able to pass on those increases relatively easily thanks to the dominance of service centres in short-term order levels. While shipments out of service centres remain relatively depressed, overall inventories remain at low levels. Service centres placed orders from mid-December as prices appeared to be moving up.

Combined with low operating levels and planned holiday shutdowns, lead times extended out quickly. When mills returned from holidays, they went back to the scrap market for more material that was justified by the rising order book.

Scrap prices rose again in January by around $45/l.ton and prices pushed up again. Scrap...

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