US domestic coated flat steel spot prices have slipped backward again this week after a substantial $2.00 cwt. ($44/mt or $40/nt) drop a week ago. US HDG 0.012"x40.875" G30 and HDG 0.019"x48" G90 have fallen $1.00 cwt. ($22/mt or $20/nt) on the low end since last week while Galvalume 0.019x41.5625 Gr80/AZ55 prices have fallen $1.00 cwt. after holding firm a week ago. With the first rumors of spot deals below this week's prices (see below chart) already emerging, prices are likely to keep trending lower over the next couple weeks.
While downward pressure from domestic oversupply and US buyers' cautious buying patterns have been driving domestic hot dipped galvanized (HDG) and Galvalume prices lower over the past few weeks, the anticipation of arriving imports this month has also been a contributing factor. According to SteelOrbis sources, an influx of imports are expected to arrive over the next four weeks; and in the case of HDG 0.012"x40.875" G30 and Galvalume 0.019x41.5625 Gr80/AZ55, a lot is coming in unsold. But even coils that are coming in attached to a specific buyer will fill US buyers' already heavy inventories with lower-cost material, likely delaying domestic purchasing activity even further.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $38.00-$40.00 | $838-$882 | $760-$800 | neutral |
| 0.012"x40.875" G30 | ||||
| ex-Midwest mill | $48.00-$50.00 | $1,080-$1,102 | $980-$1,000 | ↓ $1.00 cwt. on low end |
| 0.019"x48" G90 | ||||
| ex-Midwest mill | $48.00-$50.00 | $1,080-$1,102 | $980-$1,000 | ↓ $1.00 cwt. on low end |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $38.00-$40.00 | $838-$882 | $760-$800 | neutral |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $49.00-$51.00 | $1,080-$1,124 | $980-$1,020 | ↓ $1.00 cwt. |