Research

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

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March 2014 | Galvanized Steel and Tinplate Market Tracker


HDG market is chilled by brutal winter, surging imports, tumbling scrap prices: American Market Highlights


The rate of decline in prices, while not as steep as that for HRC, however, is greater than we expected.

US HDG prices continue to slide downward in early March with most spot business now reportedly being conducted at base prices of $720-$760/short ton compared with $740-$790/short ton in February and $790-$810/short ton at its peak in January. MBR expected that there would be further price slippage in March with the imports ordered in fourth quarter, when the price differential between foreign and domestic product was as much $150/short ton, now arriving.

The rate of decline in prices, while not as steep as that for HRC, however, is greater than we expected. This is because it has been exacerbated by both unexpectedly extreme wintry weather conditions, especially in the Northeast and Midwest, and tumbling scrap metal prices during a time of the year when they usually firm up. Weaker-than-usual export volumes caused scrap prices to fall another $17-$20/long ton in March after declining...

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