Galvanized Sheet Price Trend and Forecast

Galvanized Sheet Regional Price Overview

Get the latest insights on price movement and trend analysis of Galvanized Sheet in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Galvanized Sheet Price Trend for the First Half of 2024

During the first half of 2024, the price trend of galvanized sheets exhibited a declining pattern in both the US and European markets, driven by a combination of weak demand from the construction and automotive sectors, rising economic uncertainties, and increased competition from low-cost imports.
 

Galvanized Sheet Price Chart

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In Germany, deteriorating economic conditions, high energy costs, and logistical challenges stemming from the Red Sea security crisis significantly impacted the demand for galvanized sheets, pushing prices downward. The German manufacturing sector faced ongoing struggles, with sluggish activity, high production costs, and extended lead times further complicating the market landscape.

Meanwhile, in the US, increased supply pressures, declining prices of raw materials like Hot-Rolled and Cold-Rolled Coils, and cautious market sentiment contributed to the downtrend in galvanized sheet prices. The overall market environment was characterized by subdued buying interest, cautious restocking behavior among domestic buyers, and speculative concerns about potential output reductions by mills. Despite some resilience in the automotive industry, particularly in terms of sales growth, the overall sentiment remained negative, with economic challenges and fluctuating market dynamics continuing to weigh heavily on galvanized sheet prices throughout the first half of the year.

Analyst Insight

According to Procurement Resource, the price of the Galvanized Sheet is expected to bear the consequences of the bearish momentum of the steel market and the declining interest of global downstream industries in the forthcoming quarters, pushing its pricing patterns in the southward direction.
 

Galvanized Sheet Price Trend for the Second Half of 2023

Stay updated with the latest Galvanized Sheet prices, historical data, and tailored regional analysis
 

Asia

Building upon the growth of the first half the galvanized sheet market continued to register increasing numbers at the price index. Amidst the slowdown in global markets, the Chinese galvanized sheet market grew by approximately 5% during the second half of the year 2023. The monthly average prices went from around 698 USD/MT (Spot FD) in July’23 to around 738 USD/MT (Spot FD) in December’23.

The Indian galvanized sheet market also gave a lukewarm performance during the said period. The downstream manufacturing sector was providing optimum support to the market outlook by making good purchases. However, the market trajectory was more positive in the third quarter compared to the fourth, as the trade disruptions in the global shipping industry hampered the offshore orders. Overall, a positive market run was witnessed in H2’23.

Europe

In contrast with the Asian galvanized sheet price trend, the European market witnessed a depressing run throughout the given period. The lackluster domestic demands were primarily attributed to the lowered end-consumer interest in products. Even though the region’s economic situation improved over the past few months consumers were still cautious with their purchases. The international markets were also not adding much to the region’s revenue. Overall, with dull demands and flowing inventories, a tepid price curve was experienced.

North America

The North American galvanized sheet market was not very different from the European market, as the prices were observed to be fluctuating here as well. Some pick-ups in the price graph were noticed at the time of quarter shifts, however, the general market outlook was largely wavering downwards for the entire period.

Analyst Insight

According to Procurement Resources, the Galvanized Sheet price trends are expected to continue fluctuating in the coming months, given the current market dynamics and pricing fundamentals.
 

Galvanized Sheet Price Trend for the First Half of 2023

Asia

Galvanized Sheet prices observed mixed trend throughout the first half of 2023. As the manufacturing industry revived, facing a long-term shutdown because of the COVID-19 pandemic, fresh demands from the downstream manufacturing, construction, furniture, fixtures, etc. sectors pushed the market.

As a result, the Galvanized Sheet prices rose throughout the first quarter and continued till the first half of the second quarter. But as the inventories started rising amidst stable demands, the Galvanized Sheet prices shifted momentum in the latter half of the second quarter. Overall, market sentiments were fairly stable as the prices swung high for most of the said period, but fluctuations were in a very narrow range. In the Chinese domestic market, the prices went from around 719 USD/MT (Spot FD) in January’23 to around 699 USD/MT (Spot FD) in June’23.

Europe

The European Galvanized Sheet market witnessed mixed price trend in the first half of 2023. Trend in the Chinese market also influenced the market behavior here as the European markets are heavily import-dependent. Prices mostly inclined in the first quarter, but because of rapid restocking, the prices fell continuously in the second quarter.

North America

Following in the European footsteps, the Galvanized Sheet price trend were in an oscillating mode in the American markets as well. The prices surged in the first quarter and were in a slump in the latter. As the American market was also struggling with high economic inflation, the opening of the Chinese market gave it some respite.

Analyst Insight

According to Procurement Resource, the price trend for the Galvanized Sheet will continue to be driven by the volatile downstream demands; fluctuations are projected going further as well.

Procurement Resource provides latest prices of Galvanized Sheet. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.