The weeks-long downtrend for US domestic HDG and Galvalume coil has continued, as spot market prices have dropped by another $5.00 cwt. ($110/mt or $100/nt) since our last report a week ago.
As of today, base-price US domestic HDG and Galvalume prices are trending at $61-$64 cwt. ($1,345-$1,411/mt or $1,220-$1,240/nt), FOB mill, against a range of at $66-$69 cwt. ($1,455-$1,520/mt or $1,320-$1,380/nt), FOB mill, on July 18.
This is the lowest price seen for both products since January 2021, when prices were hovering at $63 cwt. ($1,389/mt or $1,260/nt), FOB mill.
Sources continue to report that lead times are trending at about 4-5 weeks, and that deals below this range have been heard based on volume.