Pricing within the US domestic hot dipped galvanized and Galvalume spot markets continues to rise, sources note, adding that mills are becoming increasingly less likely to negotiate on price.
The spot market has experienced an unprecedented spike since January, as noted in the chart below.
Both buyers and sellers are still expressing concern over market volatility, and many are concerned that current pricing could experience a marked correction, when the final decision regarding the Section 232 exemption list is announced. As such, sources close to SteelOrbis have indicated that buyers are only placing orders on an as-needed basis, because “no one wants to take the type of risk that would be associated with padding inventory.”
Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
US domestic HDG base price | $50-$52 | $1102-$1146 | $1000-$1040 | up $2.00 cwt |
HDG prices on Jan 15, 2018 | $40-$42 | $882-$926 | $800-$840 | historical price |
US domestic Galvalume base price | ||||
ex-Midwest mill | $50-$52 | $1102-$1146 | $1000-$1040 | up $2.00 cwt |
Galvalume base price on Jan 15, 2018 | $40-$42 | $882-$926 | $800-$840 | historical price |
0.019x41.5625 Gr80/AZ55 | ||||
ex-Midwest mill | $60-$62 | $1323-$1367 | $1200-$1040 | up $2.00 cwt |