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Prices of galvanized coil over the past five years

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Table of Contents

Over the past five years, the prices of galvanized coils have seen significant fluctuations driven by various factors, including global demand, raw material costs, and macroeconomic conditions. Here’s a detailed overview of the trends and factors influencing these prices:

2019-2020: Initial Stability and Subsequent Surge

Early 2019 to Early 2020:

  • Prices of galvanized steel coils were relatively stable during this period, reflecting steady demand from key sectors such as construction and automotive.

Late 2020:

  • A sharp price increase occurred towards the end of 2020, largely due to supply chain disruptions caused by the COVID-19 pandemic and a rebound in demand as industries started to recover.
  • By December 2020, the price of hot-dipped galvanized coil in the US had surged to $1,080 per short ton, significantly higher than mid-2020 levels​​.

2021: Continued Price Surge

Early to Mid-2021:

  • The upward trend continued, driven by strong demand and limited supply. The steel industry faced challenges such as raw material shortages and logistical issues, which kept prices high.
  • US prices for cold-rolled coil and hot-dipped galvanized steel sheet continued to rise, peaking in mid-2021 due to robust demand from the construction and automotive sectors.

2022: Stabilization and Adjustments

Throughout 2022:

  • Prices began to stabilize but remained elevated compared to pre-pandemic levels. The stabilization was partly due to improvements in supply chains and a more balanced demand-supply equation.
  • Despite some volatility, galvanized steel coil prices adjusted to global economic conditions and trade policies. The overall trend was a gradual decline from the highs of 2021​​.

2023: Gradual Decline

Early to Mid-2023:

  • The market saw a gradual decline in prices, influenced by factors such as improved supply chain logistics, lower raw material costs, and adjustments in global steel demand.
  • US prices for cold-rolled and hot-dipped galvanized steel continued to slide, reflecting a broader trend of easing prices in the steel industry​.

2024 Forecast: Potential Price Increases

2024 Projections:

  • Looking ahead, analysts anticipate a potential increase in galvanized coil prices. This expectation is based on rising demand from construction and infrastructure projects, higher production costs due to increased raw material prices, and a general improvement in global economic conditions.
  • Businesses relying on galvanized coils are advised to prepare for possible price hikes and consider budgeting accordingly​​.

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