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

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December 2019 | Galvanized Steel and Tinplate Market Tracker


Prices run up in line with scrap prices: European Market Highlights


With regards scrap, prices on European HMS1&2 grade scrap, as well as shredded material, have continued on the upward trend that began some 8 weeks ago.

While the end of the calendar year is not often an easy time for European steelmakers to achieve higher prices – most large-volume buyers in the region work to the calendar year for accounting purposes and so attempt to keep inventories lean in the run-up to year-end – recent weeks have seen just that. Indeed, the past four weeks have seen the largest run-up in European steel prices all year.

That was not a hard task of course given that prices on most flat steel products in Europe have generally slipped month after month throughout 2019. But the gains are significant and build on those that we highlighted last month.

They come on the back of rising raw material costs (both for iron ore and scrap) that have affected steelmakers around the world since...

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