Little, if anything significant has transpired within the US domestic hot dipped galvanized (HDG) and Galvalume coil markets since our last report a week ago—a trend which is largely tied to the annual summer slowdown which is typical of this time of year.
Market sources say they continue to be cautious with their buys due to the still-pending announcement in the Section 232 investigation. Although multiple groups have come out against a possible affirmative-injury finding, due to concerns that high tariffs and quotas on imported steel could start a trade war, others, such as the chairman of the Houston County Republican Executive Committee, disagree.
“America’s reliance on foreign steel impairs our ability to respond to crises like natural disasters and terrorist attacks,” the chairman wrote in an op-ed published over the weekend. “We cannot continue to depend on Russia or China for metals that are capable of being produced in America. There is a direct correlation between a healthy steel sector and America’s independence and stability and the results from this investigation can reassure the American people that their government is putting its taxpayers first.”
In terms of pricing, the most commonly heard range base-price US domestic HDG coil are still being heard at $39-$41 cwt. ($860-904/mt or $780-$820/nt), ex-mill.
| 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 |