Galvanized Plain Sheet Prices, Pricing, Demand & Supply, Market Analysis | ChemAnalyst

North America

The price of Galvanized Plain Sheet in the US spot market has declined due to the country’s declining economic situation and higher inventory levels in the second quarter of June 2023. Initially, there was some hope as prices were high in April, but production cuts in April caused a decrease in prices. The economic uncertainties, including a debt crisis and the fall of major US banks, led to a pessimistic market sentiment. This resulted in a decline in demand from the downstream automobile industry, leading to the shutdown of major automotive companies in June. The reduced consumption of Galvanized Plain Sheet sheets in the US automobile and construction industry increased inventory levels. In addition, the decreased price of feedstock iron ore further impacted the market, leading to local manufacturers offering discounts even on smaller orders.

Asia-Pacific

In the Japanese spot market, the price of Galvanized Plain Sheet showed a continuous decline throughout the second quarter. The production rate started high at the beginning of the quarter, but uncertain global economic conditions negatively affected the downstream construction sector. The Japanese automobile industry also faced a sluggish market sentiment due to rising inflation rates in overseas markets. Steel scrap prices declined, putting pressure on local steel mills. In the second half of the quarter, major steel plants underwent production cuts for infrastructure upgrades. This resulted in surplus supply and a bearish market sentiment as buyers shied away from placing large orders.

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Europe

In the Italian Galvanized Plain Sheet market, prices initially increased in April but showed an overall declining trend in the second quarter. Rising energy costs and feedstock prices contributed to the price increase. Demand from the construction industry remained stable, supporting higher prices. However, the global economic condition deteriorated, leading to a rising inflation rate across Europe. The steel production rate remained high, but weak demand from the downstream construction sector resulted in high inventory levels. This prompted buyers to offer Galvanized Plain Sheet sheets at reduced prices to stay competitive in the global market. Overseas steel suppliers, such as China, offered a surplus supply, putting downward pressure on prices. The Italian government also imposed tariffs on Russian-origin steel to manage local inventory levels.