Consolidated Media December 23 reported that October the United States and Europe's galvanized prices reached the peak of the near future, into the November, the two regions of the price of galvanized plate both declined. The reduction is mainly due to the decline in the price of galvanized substrate and the completion of the rebuilding inventory that began several months ago, resulting from reduced purchases by downstream users and steel dealers. Before the end of the year, market turnover will not appear enlarged.
As the price of galvanized substrate rises, the price of galvanized steel in Asia November correspondingly rises. China's demand rebound in galvanized steel, not only digestion of a large number of domestic galvanized sheet, but also reduce the pressure on export market supply, especially in Japan and South Korea manufacturers of high-grade automotive galvanized sheet. Consumer confidence in the Asian galvanized sheet market has improved, and the price of galvanized steel in Asia will rise further by the end of 2010. Nonetheless, global demand has been sluggish, and Asia's limited space to raise prices is susceptible to oversupply and declining demand.
The spot price of galvanized sheet in China has rebounded from the lows of the mid-October, and the main steel mills have announced the December galvanized sheet price or a discount or a reduction. The spot price of galvanized sheet in Shanghai area exceeds 4,750 RMB/ton (600 USD/ton, excluding VAT).