Suppliers have not succeeded to lift the price for hot deep Galvanized Steel, owing to moderate demand in the middle of September'13.
Traders have already booked enough material in the first half of September and decided to wait because of the stable demand from the end users. Tata Steel Europe the second largest Steel producer in Europe has lowered prices again after the increase announced at the beginning of the month. Higher interest in import material given the favourable exchange rate also affects the supplier's positions.
Hot deep Galvanized Steel 0.5 mm and 1 mm with 140 g/sq m Zinc coating offered by UK origin to buyers at USD 891/MT and USD 834/MT delivered respectively for October bookings, the available price is USD 24/MT lower than past two weeks ago. All prices are excluding 20% VAT.
Stockists are quoting their material by USD 16/MT lower than mills. Thus, 0.5 mm and 1 mm HDG with 140 g/sq m Zinc coating is offered by traders at USD 875/MT and USD 891/MT respectively and the material of the same size with 275 g/sq m Zinc coating – at USD 848/MT and USD 934/MT.
Domestic demand is supposed to be stable in the second half of September. The prospects remain mostly gloomy even despite higher buying interest from consuming industries. The UK Society of Motor Manufacturers and Traders (SMMT) expect the further increase in production this month.
Leave a Reply