Spot market prices for US domestic hot rolled galvanized (HDG) and Galvalume coil continue to remain stable, sources note, adding that buyers of US domestic HDG and Galvalume coil are “still digesting and resisting the recent price increase,” despite global HRC prices continuing to rise and US domestic scrap prices expected to trend upward during the September buy-cycle.
“Mills are trying to get things up but they’re willing to negotiate. One of the problems right now is that a lot of people are finishing up their summer vacations, and with Labor Day coming up, a lot of people just aren’t in the office,” a source said, noting that he expects that the market will remain stable until after the upcoming three-day weekend.
Another source said he believes that current inventory levels are “higher than the Metals Service Center Institute (MSCI) is reflecting, and that it could take up to a month for the inventory rebalancing to sort itself out.”
It is still believed that US HDG and Galvalume prices will rise, a third source said, but at current, it’s not believed the price increase will gain acceptance for several more weeks.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $39.50-$41.00 | $871-$904 | $790-$820 | neutral with deals |
| 0.012”x40.875” G30 | ||||
| ex-Midwest mill | $47-$49 | $1036-$1080 | $940-$980 | neutral with deals |
| 0.019”x48” G90 | ||||
| ex-Midwest mill | $47-$49 | $1036-$1080 | $940-$980 | neutral with deals |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $39.50-$41.00 | $871-$904 | $790-$820 | neutral with deals |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $47-$49 | $1036-$1080 | $940-$980 | neutral with deals |