US domestic coated flat steel spot prices have continued to trend higher for the second consecutive week, boosted by extended lead times. Since US domestic flat rolled mills announced a united front against falling spot prices with a $2.50 cwt. ($55/mt or $50/nt) price increase or by issuing new base prices in late May, it has improved purchasing activity levels enough to allow spot prices to continue firming. As usual, lead times vary between integrated and minimills, but lead times on hot dipped galvanized (HDG) and Galvalume coil products are now six-plus weeks, with delivery dates already out past July.
HDG and Galvalume coil base prices have increased by $1.00 cwt. ($22/mt or $20/nt) on the high end to the range of $33.00-$35.00 cwt. ($728-$772/mt or $660-$700/nt) ex-Midwest mill. Mills are largely pushing for the high end on most new orders, but sources tell SteelOrbis that the previously widespread discounting is not entirely gone yet. While purchasing activity improved quickly following the announced price increases, it has slightly slowed in the past week as many continue to be concerned about the longevity of the recently higher prices. A sideways busheling scrap move in June is likely to help mills firm up prices in the next couple weeks, but a number of service center buyers said mills may need more than just steady scrap to keep prices rising, which has fueled rumors that a second increase could be near.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $33.00-$35.00 | $728-$772 | $660-$700 | ↑ $1.00 cwt. on high end |
| 0.012"x40.875" G30 | ||||
| ex-Midwest mill | $43.50-$44.50 | $959-$981 | $870-$890 | ↑$0.50 cwt. |
| 0.019"x48" G90 | ||||
| ex-Midwest mill | $43.50-$44.50 | $959-$981 | $870-$890 | ↑$0.50 cwt. |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $33.00-$35.00 | $728-$772 | $660-$700 | ↑ $1.00 cwt. on high end |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $43.50-$44.50 | $959-$981 | $870-$890 | ↑$0.50 cwt. |