Steel Events

US HDG prices keep inching up

The US hot dipped galvanized and galvalume coil markets may be the weakest of all the domestic flat rolled steel products, but that hasn’t hindered price firming.

Prices are up $1.00 cwt. ($22/mt or $20/nt) across the board in the past seven days, sources note, adding that mills seem to be firm about the revised upward price points.

Service center sources, however, have indicated that they have not been as firm on pricing, as many are holding lower-priced import material. Some have indicated that in-stock items can be purchased for up to $1.00 cwt. ($22/mt or $20/nt) below current ex-mill spot price ranges.

SteelOrbis sources have indicated a strong belief that prices will continue to firm through Q2, 2018, due to underlying market fundamentals, which include but are not limited to forecast increases in domestic scrap pricing coupled with decreased import arrivals.

It is also speculated that last week’s deliverance of a Section 232 investigation report to Donald Trump from the Commerce Department could end with an anticlimactic result, as implementing steel tariffs against imported steel could have a largely detrimental impact with the US’ relationship with NATO allies.

Cwt. Metric Ton (mt) Net ton (nt) Change from last week
US domestic HDG base price $40-$42 $882-$926 $800-$840 up $1.00 cwt.
0.012”x40.875” G30
ex-Midwest mill $49-$51 $1080-$1124 $980-$1020 up $1.00 cwt.
0.019”x48” G90      
ex-Midwest mill $49-$51 $1080-$1124 $980-$1020 up $1.00 cwt.
US domestic Galvalume base price      
ex-Midwest mill $40-$42 $882-$926 $800-$840 up $1.00 cwt.
0.019×41.5625 Gr80/AZ55    
ex-Midwest mill $49-$51 $1080-$1124 $980-$1020 up $1.00 cwt.

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