The most commonly heard spot market price for US domestic hot dipped galvanized (HDG) coil has firmed by approximately $0.50 cwt ($11/mt or $10/nt) since our last report a week ago, which brings the new average transaction rage to $39.50-$41.00 cwt. ($871-$904/mt or $790-$820/nt), ex-mill.
Although prices are up slightly week-on-week, SteelOrbis sources note that President Trump’s announcement that the Section 232 investigation results will be delayed has put some pressure on the market.
“Now, most are expecting any announcement on the Section 232 will not come anytime soon,” a source said. “We expect buyers will try and push the market down.”
It’s also worth noting that White House trade adviser Peter Navarro has said that the Trump administration's trade moves over its first six months will pale in comparison to the “amazing” steps it will take over the next six months. Possible changes will include the renegotiation of NAFTA along with the Trump administration’s plan to modernize the US-Korea free trade agreement, all of which could impact US HDG spot market pricing.
Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
US domestic HDG base price | $39.50-$41.00 | $871-$904 | $790-$820 | up $0.50 cwt on the bottom end |
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 | $39.50-$41.00 | $871-$904 | $790-$820 | up $0.50 cwt on the bottom end |
0.019x41.5625 Gr80/AZ55 | ||||
ex-Midwest mill | $47-$49 | $1036-$1080 | $940-$980 | neutral |