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

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February 2019 | Galvanized Steel and Tinplate Market Tracker

European price falls continue but market may be about to turn: European Market Highlights

The provisional period for the EU’s system of tariffs and quotas came to an end during early February with only 2% of the quota for metallic-coated steels remaining.

Some support has emerged at last for global steel prices in recent weeks although it has largely come from tragic circumstances. We speak of the collapse of the tailings dam at Vale’s Córrego do Feijão iron ore mine in Brazil on January 25 that may have resulted in the deaths of some 300 people. Following the incident, Vale has responded with cutbacks, halting operations at other mines that have tailings dams built via the same method as that used at Córrego do Feijão. The cutbacks will amount to some 40 million tonnes of iron ore per year, which compares to Vale’s total output of some 390 million tonnes last year.

The upshot of this is that prices for a range of iron ore products have jumped by some 10-15% since late January. Fastmarket’s iron ore index for Brazilian...


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