US domestic HDG prices still stable despite mills’ recent increase announcements

Spot market prices for US domestic HDG coil are still holding at $40-$42  cwt.  ($882-$926/mt or $800-$840/nt), FOB mill.  This range is consistent with prices before last week’s flurry of price increase announcements. As of late-Friday, US Steel, Nucor, and Cleveland Cliffs all indicated they wanted to take prices for all sheet steel products, including HDG coil, up by $3.00 cwt. ($66/mt or $60/nt) effective with all new orders. Skepticism that this increase will gain acceptance remains widespread due to unexciting order activity, low capacity utilization rates, and short lead times, among other seasonal factors.