Toward the end of last week, US domestic flat rolled steel mills announced their second round of price increases in less than a month. Although most domestic producers announced $2.00 cwt. ($44/mt or $40/nt) increases, effective with all new orders, AMUSA set a new minimum HDG base price of $35 cwt. ($772/mt or $700/nt) ex-mill.
As of late last week, domestic HDG prices had been stable from price points heard on May 18, and while some within the market believe that the most recent increase could shore up prices on the bottom end of the current transaction range, buyers say the market is still in “wait and see” mode, after the 3-day Memorial Day holiday.
“We’re keeping an eye on it. Could prices inch up to $35 cwt.? Sure,” a source said. “But we still think the discounts will be there for contract and volume buyers. Is supply still outpacing demand? Yes. However, with manufacturing facilities now starting to reopen, and a belief that scrap will come up a bit in June, we believe [last week’s increase] could get some acceptance.”
This week’s domestic HDG and Galvalume spot market prices are listed in the chart below.
| Product | $/cwt | $/mt | $/nt | Delivery | Weekly change |
| US domestic HDG base price | $32-$34 | $705-$750 | $640-$680 | ex-mill | neutral |
| US domestic Galvalume base price | $32-$34 | $705-$750 | $640-$680 | ex-mill | neutral |
| 0.019x41.5625 Gr80/AZ55 | $42-$44 | $926-$970 | $840-$880 | ex-mill | neutral |