US domestic hot dipped galvanized (HDG) and Galvalume coil prices have continued to plunge since our last report on January 18. By Friday of last week, prices had softened by approximately $5 cwt. ($220/mt or $200/nt) from ranges we reported on Tuesday. This week, prices have fallen again, and many are questioning when and where the market will settle.
And while an approximate $10 cwt. ($220/mt or $200/nt) week-over-week decline on the surface, may seem excessive, SteelOrbis had previously reported that “deals for all grades had been reported at up to $10 cwt. below published prices.” As such, this week’s pricing is on par with deal-level pricing heard early last week. Also, notable, is that despite the sharp decline in pricing, US coated steel prices are still leaps and bounds above import pricing, which has many thinking that the domestic price erosion “isn’t quite done yet.”
Current prices are listed in the chart below.
| Product | $/cwt | $/mt | $/nt | last week $/cwt | Delivery |
| US domestic HDG base price | $85-$87 | $1,874-$1,918 | $1,700-$1,740 | $95-$97 | ex-mill |
| 0.012” G30 HDG coil | $95-$97 | $2,094-$2,139 | $1,900-$1,940 | $105 | ex-mill |
| Import 0.012” G30 HDG coil | |||||
| Vietnam /Turkey | $72-$74 | $1,587-$1,631 | $1,440-$1,480 | $72-$74 | DDP loaded truck in US Gulf ports |
| South Africa | $85 | $1,874 | $1,700 | $85 | DDP loaded truck in US Gulf ports |
| Mexico | $82-$84 | $1,808-$1,852 | $1,640-$1,680 | $82-$84 | FOB Houston |
| US domestic Galvalume base price | $85-$87 | $1,874-$1,918 | $1,700-$1,740 | $95-$97 | ex-mill |
| 0.019x41.5625 Gr80/AZ55 | $95-$97 | $2,094-$2,139 | $1,900-$1,940 | $105 | ex-mill |
| Import 0.019x41.5625 Gr80/AZ55 | |||||
| Vietnam | $79 | $1,742 | $1,580 | $79 | DDP loaded truck in US Gulf ports |
| Korea / Taiwan | $83-$85 | $1,830-$1,874 | $1,660-$1,700 | $83-$85 | DDP loaded truck in US Gulf ports |