June 2019 | Galvanized Steel and Tinplate Market Tracker
US HDG prices continue to fall but there is hope that the bottom is near: American Market Highlights
Service centers have largely been sitting on the sidelines as well – or just making modest purchases – being careful not to buy too early and be caught with high cost inventories.
US HDG prices continue on a downward trajectory
While it remains the more resilient steel sheet product, US HDG prices have continued moving downwards over the past month are expected to slip at least another $20/short ton further before bottoming out over the next few weeks. US spot base prices have already tumbled to $725-760/ton from $800-810/ton last month and from an $850/ton peak in April. Several factors have contributed to this decline including the delayed start of the spring construction season, falling scrap prices and increased uncertainty on the trade front.
Service centers have largely been sitting on the sidelines as well or just making modest purchases being careful not to buy too early and be caught with high cost inventories. This is especially in case, some fear, the US trade war with China escalates and results in slowing US economic growth, or...
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