Research

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

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April 2014 | Galvanized Steel and Tinplate Market Tracker


ArcelorMittal seeking rises beginning June shipments: European Market Highlights


The issue of currency fluctuations is particularly evident in Russia and Ukraine, whose currencies have weakened by some 8% and 40% respectively against the euro since the beginning of 2014.

Just as at the beginning of Q1, so ArcelorMittal have signalled their intention to raise prices at the beginning of Q2, this latest attempt set for shipments beginning in June as price levels have remained stable this month. Again, the company intends to increase prices by some €20/tonne, something they have been trying to do since October of last year. Although raw material prices have rebounded slightly since last month, we believe that the company will only achieve marginal increases, if any. The lack of unity amongst European producers with regard to price increases- indeed, Ilva is understood to have been lowering some prices over the last few weeks - is likely to act against substantial increases.

Currency movements hurting EU producers in neighbouring export markets

Another key factor acting against Europe’s coated steels producers is that of currency movements. We have often highlighted the fact that...

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