Continuous deal-cutting on hot dipped galvanized (HDG) and Galvalume products from a few mills hungry for orders has resulted in spot prices falling once again over the past week. Domestic HDG and Galvalume base spot prices are both down $1.00 cwt. ($22/mt or $20/nt) on the high end into the more narrowed range of $40.00-$41.00 cwt. ($882-$904/mt or $800-$820/nt) ex-Midwest mill. But while HDG 0.012"x40.875" G30 and HDG 0.019"x48" G90 spot prices have also fallen $1.00 cwt. on the high end since last week, more and more activity is being reported below the new spot range of $51.00-$52.00 cwt. ($1,124-$1,146/mt or $1,020-$1,040/nt) ex-Midwest mill and the low end of the spot range is poised to drop to $50.00 cwt. ($1,102/mt or $1,000/nt) ex-mill by early March.
Sources tell SteelOrbis that demand, while far from robust, is improving, and inquiry levels are stable if not strengthening. The current declines in spot prices are being driven by drops in domestic hot rolled coil (HRC) spot prices, along with fears that a substantial amount of the coated flat steel imports arriving in the US this month and the next are coming in unsold and will force US domestic spot prices even lower.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $40.00-$41.00 | $882-$904 | $800-$820 | ↓ $1.00 cwt. on high end |
| 0.012"x40.875" G30 | ||||
| ex-Midwest mill | $51.00-$52.00 | $1,124-$1,146 | $1,020-$1,040 | ↓ $1.00 cwt. on high end |
| 0.019"x48" G90 | ||||
| ex-Midwest mill | $51.00-$52.00 | $1,020-$1,040 | $1,020-$1,040 | ↓ $1.00 cwt. on high end |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $40.00-$41.00 | $882-$904 | $800-$820 | ↓ $1.00 cwt. on high end |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $50.00-$52.00 | $1,102-$1,146 | $1,000-$1,040 | ↓ $1.00 cwt. on low end |