Pricing for US domestic hot rolled coil (HRC) has officially started to show signs of softening and as expected, the trend has spilled over to the hot dipped galvanized (HDG) and Galvalume markets. This doesn’t come as all that much of a surprise, according to SteelOrbis sources, who felt the previously-seen price firming was artificial in nature. Mills were certainly quoting higher, but were having “a heck of a time” passing the late-March/early-April price increases onto customers.
In addition,, and the gap between US domestic and offshore offerings has been quite substantial. As such, the most commonly reported spot price transaction range for base price HDG and Galvalume has ticked down by approximately $0.50 cwt. ($11/mt or $10/nt) on the top end since our last report a week ago, bringing the new range to $38.00-$39.50 cwt. ($838-$871/mt or $760-$790/nt), ex-Midwest mill, with additional downticks expected to take place throughout the month of June.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $38.00-$39.50 | $838-$871 | $760-$790 | down $0.50 cwt. on top end |
| 0.012”x40.875” G30 | ||||
| ex-Midwest mill | $46.00-$47.50 | $1,014-$1,047 | $920-$950 | down $0.50 cwt. on top end |
| 0.019”x48” G90 | ||||
| ex-Midwest mill | $47.00-$48.50 | $1,036-$1,069 | $940-$970 | down $0.50 cwt. on top end |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $38.00-$39.50 | $838-$871 | $760-$790 | down $0.50 cwt. on top end |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $47.00-$48.50 | $1,036-$1,069 | $940-$970 | down $0.50 cwt. on top end |