Research

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

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October 2016 | Galvanized Steel and Tinplate Market Tracker


US HDG prices keep sliding but bottom within sight: American Market Highlights


US HDG prices likely to remain under pressure for at least the next three to four weeks.

Even with fairly steady underlying demand, US HDG prices continued to soften over the past month and are likely to drift even further downwards over the next month or so before finally finding a floor.

While US mill shipments of HDG sheet and strip jumped 11% month-on-month in August, buyers have since been a bit more standoffish. They are holding back their purchases until they are more confident that HDG prices are at or near the bottom. MBR isn’t surprised that both service centres and their customers are being very cautious, with US HDG prices already falling to $705-$730/short ton from $760-$790/ton just a month ago and from the peak of $820-$840/ton in June. We believe that HDG prices could fall another $20-$30/ton before stabilizing in just under a month, especially if scrap prices continue to drop and if imports keep on coming onshore....

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