Activity within the US domestic hot dipped galvanized (HDG) and Galvalume coil markets continues to trend light, sources note, adding the uncertainty with the outcome of the Section 232 investigation, along with typically-slow summer buying patterns have most buyers sitting on the sidelines.
“No one wants to do anything until the Section 232 investigation results come out,” a source said.
Last week, in advance of the G20 summit, US President Donald Trump tweeted “Don't like steel & aluminum dumping!”
After the summit, German Chancellor Angela Merkel admitted she still had no idea if the US would take punitive action against steel imports. Yesterday, Chief of Staff Reince Priebus appeared on a Sunday morning talk show, stating he believed Trump would impose tariffs on steel imports “because he promised he would.”
The announcement as to the findings of the Section 232 investigation, which the Trump administration said would be delayed until after the G20 summit, are expected to be released at any time.
In terms of prices, the most recently heard pricing for base price US domestic HDG coil are still trending at $39-$41 cwt. ($860-904/mt or $780-$820/nt), ex-mill. Activity for the current week is expected to trend light.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $39-$41 | $860-$904 | $780-$820 | neutral |
| 0.012”x40.875” G30 | ||||
| ex-Midwest mill | $47-$49 | $1036-$1080 | $940-$980 | neutral |
| 0.019”x48” G90 | ||||
| ex-Midwest mill | $47-$49 | $1036-$1080 | $940-$980 | neutral |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $39-$41 | $860-$904 | $780-$820 | neutral |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $47-$49 | $1036-$1080 | $940-$980 | neutral |