In the week ending March 17, Galvanized Plain Sheet prices increased in the European market as downstream flat steel prices spiked because of limited supplies. According to market participants, the European manufacturer of Galvanized Plain Sheets had full order books and could deliver coils to the market in June or July. During the assessment week ending March 17, bids for Galvanized Plain Sheets in the area were reported to range between USD 1035 and USD 1060/MT EXW. Buyers preferred to book small tonnages of Galvanized Plain Sheets because of prolonged lead times and mixed feelings about market trends in the summer. However, recent downstream inquiries from the automotive industry, a significant end-user, were consistent.

Manufacturers claim that demand in the automotive industry has stabilized since early 2023; however, they do not anticipate it to increase. There was still a shortage of Galvanized Plain Sheets in Europe, and the situation was made worse by production problems at one of the major suppliers. In addition, Tata Steel Netherlands stopped deliveries of feedstock Cold-Rolled Coil in late February, supposedly making the supply of Galvanized Plain Sheet even more constrained.

In southern Europe, Galvanized Plain Sheet manufacturers were also aiming for higher prices. Like in Northern Europe, the main cause of the price increase was a limited supply. Both evaluations consider the low end of offers, exceptional bargains, and predictions of what prices are likely to be attainable. Offers for imports into the region were still few and expensive. The majority of international manufacturers could offer a May-June shipment, which would mean a July-August arrival. As a result of long lead times and safeguard-related risks, general buying interest for imports was rather low.

Thus, ChemAnalyst anticipates that Galvanized Plain Sheet prices will rise in the coming month due to the manufacturer's attempt to raise prices amid seasonal demand. The majority of northwest European coil buyers expect prices to remain stable or rise by mirror changes, though at a slower pace than mills would prefer. The EU mills are persistently attempting to raise prices gradually. As long as supply chains are shaky, this trend will continue. Thus, the Galvanized Plain Sheet prices are anticipated to continue to rise in the coming weeks.