Have US HDG prices reached their floor?

Monday, 14 October 2019 00:26:29 (GMT+3)   |   San Diego
       

One week after a noteworthy downward revision for US domestic hot dipped Galvanized and Galvalume coil prices, the spot market seems to have leveled. However, lackluster demand coupled with underwhelming market sentiment are rampant, and some believe that prices “have room to come down a bit more.”

“The market fundamentals are awful right now,” a source noted, adding that rumors of a flat rolled steel price increase have started to circulate. “We’re hearing that the mills may try for an increase, to keep the market from sliding any further, but again, the market fundamentals just aren’t there to support higher prices.”

Current US domestic HDG / Galvalume prices are listed in the chart below.

Product $/cwt $/mt $/nt Delivery Weekly change
US domestic HDG base price $33-$34 $728-$750 $660-$680 ex-mill neutral
           
US domestic Galvalume base price $34-$35 $750-$772 $680-$700 ex-mill neutral
           
0.019x41.5625 Gr80/AZ55 $45-$46 $992-$1,014 $900-$920 ex-mill neutral

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