March 21, 2019
NORTH AMERICA FOUNDRY (A356.2) ALERT.
HARBOR’s market intel from the ground indicates: a) Competition for market share has intensified in both the US and Mexico, with some wheel’s producers increasing PFA purchases from the spot market due to attractive pricing when compared to 2019 annual contracted premiums; b) regional demand remains largely subdued, with some consumers with exposure to the light vehicle market segment reporting lower y/y orders; c) PFA Duty-unpaid spot premium offers are now spreading into Mexico; and d) increasing volumes from several PFA offshore expansions in the Middle East/Asia are being directed to the US.
More details in full report.