Steel Products Prices North America
January 8, 2015
LME Zinc Prices Sliding as We Enter the New Year
Written by John Packard
Steel Market Update understands that a number of the steel buyers have recognized zinc spot prices have fallen below $1.00/pound and there are ongoing conversations with the domestic mills to review the extras put into place late last year.
In August 2014 the domestic steel mills announced new coating extras due to the run up in LME spot zinc pricing. Zinc spot prices, as you can see from the graph below, began moving off the lows of the year in March and by June and July had exceeded $1.05 per pound. In August, the domestic mills began advising their galvanized customers that new coating extras would be collected beginning in early October.
