Spot market prices for US domestic base-price HDG and Galvalume coil have continued to soften since our last report a week ago. This week’s $2.00 cwt. ($44/mt or $40/nt) downtick comes on the heels of a $3.00 cwt. ($66/mt or $60/nt) downtick seen one week prior.
As such, current prices for both products are now being heard at approximately $46-$47 cwt. ($1,014-$1,036/mt or $920-$940/nt), FOB mill. This is the lowest that prices have been since November 2020.
Lead times are still reported to be under five weeks.
Sources continue to report that they feel there is “little to no upside” when it comes to pricing in the immediate term, and believe that prices are likely to stay soft through the end of the year.
Pricing data from the past three years is shown in the chart below.
