Spot market prices for US domestic base price HDG and Galvalume coil have risen by $1 cwt. ($22/mt or $20/nt) since our last report a week ago and are now being heard at $41-$43 cwt. ($904-$948/mt or $820-$860/nt), FOB mill. The uptick comes approximately 2 weeks after flats mills announced they’d be raising spot market prices for all sheet steel products, including HDG coil by $3.00 cwt. ($66/mt or $60/nt), effective with all new orders.
“We think the first increase established a floor and that prices are going to settle up slightly, but we don’t think the full increase is going to be accepted,” a source said. “We also expect that the mills are going to push out another increase before the end of the month, with the hopes that increase #2 will force increase #1 into full acceptance.”
And while prices for coated steel products have improved modestly, lead times remain the same. Sources have further confirmed that the average lead time for HDG and Galvalume coil are trending at 5-6 weeks.