The fluctuations in the price of hot-dipped galvanized steel underscore the interconnectedness of the automotive and steel industries, with trends in car sales directly impacting the steel market.
broke its sideways trend this past month, inching down 3.36%. Though all components of the index fell, hot-dipped galvanized steel experienced a particularly noticeable price drop, as did several other steel types.This could indicate a trend reversal. However, consumer purchasing must rise in order for a reversal to happen, which elevated new car prices are currently preventing.
Overall, U.S. car sales experienced up-and-down performance throughout May compared to April. While auto sales were up from May 2022, the market still faces bearish pressure due to high-interest rates and high new vehicle costs.The car industry in the United States continues to experience pent-up demand for new automobiles. This proved a driving reason behind the temporary increases in auto sales .
This is excellent news for steel firms that are investing in new mills and auxiliary services to meet demand, particularly in light of rising EV demand. In 2022, the worldwide hot-dip galvanized steel market was worth USD 87,228.43 million. Currently, experts predict the sector will grow at a However, hot-dipped galvanized prices have been trading flat over the last month, sitting just below support zones at about $1,200 per short ton.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Debt servicing costs for EU budget set to double in 2024\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Consulte Mais informação »
Woking council ‘effectively bankrupt’ with £1.2bn deficit as debt costs spiralled out of controlWoking council has declared itself effectively bankrupt over a £1.2 billion hole in its budget after a series of bets on the commercial property market went sour.
Consulte Mais informação »
Disney Dreamlight Valley fans unhappy Wall-E pack costs too much Mon-EThe latest update for Disney Dreamlight Valley is its biggest story update yet, but not all players are happy with every part of the new content on offer, or the prices for some of it.
Consulte Mais informação »
NI driving and vehicle test fees could be set to rise under new proposalsA public consultation has been opened on the plans
Consulte Mais informação »
Black smoke billows from stricken farm vehicle destroyed in dramatic fire near south Shropshire borderSmoke dramatically rose from a piece of farm machinery that burst into flames near the south Shropshire border.
Consulte Mais informação »