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

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December 2011 | Galvanized Steel and Tinplate Market Tracker


Fear driving markets: Asian Market Highlights


Chinese export prices have been slashed for the month of December which, will put enormous strain on mills around the globe as they battle to compete with China.

It is clear that the steel markets have been driven largely by sentiment this year as buyers have become more risk adverse in light of the financial turmoil in both the US and the EU. The poor economic data that seemed to be released on a weekly basis should have been a warning to mills that buyers would soon resign themselves to the market sidelines in order to be sheltered by the almost inevitable price shocks that would come as a result. However, this was not the case and due to the mills continuing to produce material which, they are now struggling to sell has landed the market in an unorthodox state. Prices have fallen almost monthly from the middle of this year when buyers began to retreat to the sidelines and they have not returned in any great quantity since. We believe that mills are now at...

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