It’s been two weeks since US domestic flat rolled steel mills announced they would be raising prices on coated steel products by $1.00 cwt. ($22/mt or $20/nt), effective immediately. Today, however, sources close to SteelOrbis have said they have not seen any upward price momentum.
Some think the increase may have been psychologically based; the early June trade case petition filing against certain offshore producers of coated steel products had many thinking a price increase attempt would be inevitable. On the other hand, inventories continue to trend high, according to other SteelOrbis sources, and while market activity is good, it hasn’t yet caught up with supply. For now, US HDG base prices once again remain unchanged week-on-week and continue to trend in the approximate range of $28.00-$29.00 cwt. ($617-$639/mt or $560-$580/nt), ex-Midwest mill.
Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
US domestic HDG base price | $28-$29 | $617-$639 | $560-$580 | neutral |
0.012”x40.875” G30 | ||||
ex-Midwest mill | $38-$40 | $838-$882 | $760-$800 | neutral |
0.019”x48” G90 | ||||
ex-Midwest mill | $38-$40 | $838-$882 | $760-$800 | neutral |
US domestic Galvalume base price | ||||
ex-Midwest mill | $29-$31 | $639-$683 | $580-$620 | neutral |
0.019x41.5625 Gr80/AZ55 | ||||
ex-Midwest mill | $39-$40 | $860-$882 | $780-$800 | neutral |