Galvanized Plate Prices Fall despite Gains in Raw Materials

Market focus this week include: the annualised reading of new housing starts in the United States in August, the initial value of the manufacturing PMI in the Eurozone in September, and the initial value of the Markit manufacturing PMI in the United States in September; China's one-year loan market quotation interest rate as of September 22. In terms of events, FOMC will announced the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; and the European Central Bank will announces an economic bulletin.

SMM learned that in order to ensure good air quality, the inspection team of Ministry of Environmental Protection settled in North China on Nov.27th.

Major quotes for galvanizing slag on October 27 are as follows:

Major quotes for galvanizing slag on September 6 are as follows:

Many zinc traders contributed the surge in zinc market mainly to two factors, 21st Century Business Herald reported. 

Galvanized plate sales by South Korea’s top 5 producers of such products reached 378,200 tonnes in June, up 3.9% on a yearly basis. Exports were 263,900 tonnes, up 13.2% on a yearly basis.

The price spread between domestic and imported zinc has narrowed recently, SMM noted.

Flat product prices continued to fall in the latter part of June, in both the north and south of Europe. Basis numbers were driven down by the impact of inventory build-up and price pressure from thir

The Steel Scrap exports by United States during the first five months of this year have seen a significant increase, as per US Census Bureau and International Trade Commission.

Some galvanizers in North China were restricted by strip steel supply shortages, SMM understands. They began to suspend production lines and cut output from July 1.