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

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July 2014 | Galvanized Steel and Tinplate Market Tracker

EU galvanized steel prices remain under continued pressure: European Market Highlights

In addition to the usual fall in European activity, near-abroad markets in the Middle East and Turkey are also quieter at present following the start of the Ramadan holiday on June 29.

It is now increasingly likely that, contrary to previous intentions on behalf of the region’s steelmakers, European steel prices will struggle to increase during the second half of the year. As we reported last month, ArcelorMittal’s intended €20/tonne price increase beginning June failed to materialize. Instead, base prices on hot-dipped galvanized material (HDG) have slipped by around €10-20/tonne since late April.

Recent weeks have seen only minor movement in these base prices, but that movement continues to be downward. The effect has been for the range in European HDG prices to narrow, with average prices in northern European countries slipping somewhat, by about €10/tonne to €515/tonne. Southern European prices remain at an average of around €495/tonne, with lows of about €475/tonne achievable in Italy (although it should be noted that extras on Italian material are generally higher so as to compensate for...


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