US domestic hot dipped galvanized (HDG) coil may be mostly stable in the past week, but sources close to SteelOrbis are indicating that mills have been increasingly open to making “quiet deals” up to $2.00 cwt. ($44/mt or $40/nt) below the average transaction range, although those deals are “the exception and not the rule.”
Pricing for Galvalume, however, has corrected since our last report a week ago, as indicated in the chart below.
“Part of this is the summer slowdown and the fact that mills are wanting to pad their order books,” a source said. “Another part of this is that with prices being as high as they are, the mills can make a few revisions to their offers and still make money. Even with the correction, prices are still at near-record highs.”
Lead times continue to trend between 7 and 8 weeks.
Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
US domestic HDG base price | $50-$52 | $1102-$1146 | $1000-$1040 | neutral, although deals are available for volume buyers |
US domestic Galvalume base price | ||||
ex-Midwest mill | $48-$50 | $1058-$1102 | $960-$1000 | down $2.00 cwt. |
0.019x41.5625 Gr80/AZ55 | ||||
ex-Midwest mill | $58-$59 | $1279-$1301 | $1160-$1180 | down $2.00 cwt. on bottom end, down $3.00 cwt. on top end |