The most commonly reported spot price transaction range for base-price US domestic hot dipped galvanized (HDG) coil have inched up approximately $0.50 cwt. ($11/mt or $10/nt) since our last report a week ago, which brings the most commonly reported transaction range for base-price HDG coil to $30.00-$32.00 cwt. ($661-$705/mt or $600-$640/nt). Sources close to SteelOrbis, however, say that transactions at the lower end of that range are becoming fewer and farther between.
The most commonly reported transaction price is somewhere in the middle, sources note, although those who are looking to book smaller-sized orders are being quoted prices closer to the higher end of the most commonly reported spot price transaction range.
It's expected that prices will continue to firm on the low end in the upcoming weeks due to mills’ increased input costs. SteelOrbis has previously reported that April scrap prices are forecast to increase by $20-$30/mt during this month’s buy cycle. April scrap prices are expected to settle by the end of the week.
It’s further believed that once scrap prices settle that mills may try for a third price increase.
“The first two seem to be sticking and since import offer prices have been rising there’s less and less interest when it comes to booking offshore,” another sources said. “As it stands it looks as if domestic mills are going to dominate the market for the next few months. All of this seems to favor another price increase.”
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $30.00-$32.00 | $661-$705/mt | $600-$640/nt | up $0.50 cwt. |
| 0.012”x40.875” G30 | ||||
| ex-Midwest mill | $37.50-$39.00 | $827-$860/mt | $750-$780/nt | neutral |
| 0.019”x48” G90 | ||||
| ex-Midwest mill | $35.50-$37.00 | $783-$816/mt | $710-$740/nt | neutral |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $27.00-$29.00 | $595-$639 | $540-$580 | neutral |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $37.00-$39.00 | $816-$860/mt | $740-$780/nt | neutral |