US domestic hot dipped galvanized (HDG) spot prices have drifted lower again this week as buyer caution has slowed purchasing activity. Domestic HDG 0.012"x40.875" G30 and HDG 0.019"x48" G90 spot prices have fallen $1.00 cwt. ($22/mt or $20/nt) since last week to $51.00-$53.00 cwt. ($1,124-$1,168/mt or $1,020-$1,060/nt) ex-Midwest mill. Plenty of deals are being made for larger buyers, according to SteelOrbis sources, as some mills' lead times are contracting. Galvalume 0.019x41.5625 Gr80/AZ55 spot prices are unchanged in the range of $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill, but most transactions are now on the very bottom of that range.
Many US buyers booked significant tonnage offshore in November and December of last year, and those orders are already beginning to arrive into US ports. Lower-priced position tons booked by traders are expected to exert continued downward pressure on US domestic spot prices throughout February and into March unless demand (which is already surprisingly strong) picks up further, or supply levels decline. While slower than in the last couple weeks, there is still a decent amount of domestic booking activity taking place, but buyers are waiting until the last possible minute to place orders.
Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
US domestic HDG base price | $40.00-$42.00 | $882-$926 | $800-$840 | neutral |
0.012"x40.875" G30 | ||||
ex-Midwest mill | $51.00-$53.00 | $1,124-$1,168 | $1,020-$1,060 | ↓ $1.00 cwt. |
0.019"x48" G90 | ||||
ex-Midwest mill | $51.00-$53.00 | $1,124-$1,168 | $1,020-$1,060 | ↓ $1.00 cwt. |
US domestic Galvalume base price | ||||
ex-Midwest mill | $40.00-$42.00 | $882-$926 | $800-$840 | neutral |
0.019x41.5625 Gr80/AZ55 | ||||
ex-Midwest mill | $51.00-$52.00 | $1,124-$1,146 | $1,020-$1,040 | neutral |