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

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February 2020 | Galvanized Steel and Tinplate Market Tracker


US HDG prices ease slightly as uncertainty of coronavirus impact builds: American Market Highlights


Not only has the last of the five back-to-back domestic mill price increases – a $40/short ton hike led by Nucor early in January – failed to stick, but US HDG prices have edged down to $760-780/ton as of mid-February from $770-800/ton a month earlier and are expected to remain at this level, or even fall another $20-30/ton in coming weeks.

US HDG prices slip as market uncertainty makes buyers increasingly cautious
The US HDG market appears to be stuck in a wait-and-see mode with buyers unwilling to risk taking any sizable buying positions, uncertain where the market is likely to go from here. While it appears that end-use markets are, at least at this point, holding up fairly well and fears of a near-term manufacturing recession have been receding somewhat, the recent decline in HRC pricing and the concerns about what the future impact of the coronavirus will be has put downward pressure upon domestic HDG prices as well.

Not only has the last of the five back-to-back domestic mill price increases – a $40/short ton hike led by Nucor early in January – failed to stick,...

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