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

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November 2011 | Galvanized Steel and Tinplate Market Tracker


Coated coil market recovery ruled out by euro-panic: European Market Highlights


The Eurozone’s non-solutions have not only ruled out rises in coated coil prices this year, but virtually guaranteed a weak market well into the first quarter of 2012.

The Eurozone’s non-solutions have not only ruled out rises in coated coil prices this year, but virtually guaranteed a weak market well into the first quarter of 2012. The panic in financial markets has spread to a point where even the German government finds it difficult to borrow on its customary easy terms. If steel distributors were not already convinced that it is better for now to hold on to cash rather than build up stocks this would have convinced them. Unfortunately the only measures governments have introduced to deal with their sick economies amount to no more than general austerity, cures that are worse than the disease.

There had been some moderate increases in steel company operating rates earlier in the year, but they are now planning big reductions, aiming to restore market balance at a lower level. This sets the...

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