The most commonly reported spot market transaction price for US, ex-mill base-price hot dipped galvanized (HDG) coil may still be holding at $37-$38.50 cwt. ($816-$849/mt or $740-$770/nt,) ex-Midwest mill, but sources close to SteelOrbis report that while last week, most transactions were taking place “at the middle of the range, this week, far more are taking place at the bottom.”
US domestic flat rolled steel prices have been correcting since early-August, when US HDG prices reached a peak of $41-$42 cwt. ($904-$926/mt or $820-$840/nt), ex-Midwest mill.
“Demand is weakening, the end-of-year slowdown is just about upon us and scrap has been soft. It’s been a perfect storm, of sorts,” one source said. “The big question is when and where [prices] will level out.”
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $37.00-$38.50 | $816-$849 | $740-$770 | neutral |
| 0.012”x40.875” G30 | ||||
| ex-Midwest mill | $46-$48 | $1014-$1058 | $920-$960 | neutral |
| 0.019”x48” G90 | ||||
| ex-Midwest mill | $45-$47 | $992-$1036 | $020-$940 | neutral |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $36-$38 | $794-$838 | $720-$760 | neutral |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $45-$46 | $992-$1,014 | $900-$920 | neutral |