The most commonly reported spot price transaction range for base-price US domestic hot dipped galvanized (HDG) coil has been on an upswing in recent weeks, and many speculate that with US April scrap prices having settled up from levels seen in March, that flats mills will continue to try to push prices higher.
NLMK USA last week announced they would be raising spot prices for US domestic HDG coil by $2.00 cwt. ($44/mt or $40/nt), effective immediately. Although other flats mills have yet to announce, many believe that it’s only a matter of time before the NLMK USA price increase spurs action from other domestic HDG producers.
Lead times have also continued to extend, sources note, adding that all of these factors bode well for additional price firming.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $30.50-$32.50 | $672-$716 | $610-$650 | up $0.50 cwt. |
| 0.012”x40.875” G30 | ||||
| ex-Midwest mill | $38.00-$39.00 | $838-$860/mt | $760-$780/nt | up $0.50 cwt. on the low end |
| 0.019”x48” G90 | ||||
| ex-Midwest mill | $36.00-$37.00 | $794-$816/mt | $720-$740/nt | up $0.50 cwt. on the low end |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $27.50-$29.00 | $606-$639 | $560-$580 | up $0.50 cwt. on the low end |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $37.50-$39.00 | $827-$860/mt | $750-$780/nt | up $0.50 cwt. on the low end |
In terms of current spot market pricing, that has firmed by approximately $0.50 cwt. ($11/mt or $10/nt) since our last report a week ago, bringing the current average spot market price range to $30.50-$32.50 cwt. ($672-$717/mt or $610-$640/nt). Sources close to SteelOrbis say they believe that transactions toward the bottom end of this range “will not be around much longer.”