Sources close to SteelOrbis have said that while they think US domestic hot dipped galvanized prices haven’t reached bottom yet, “we’re probably scraping the bottom.”
Current US HDG spot market prices are down by $1.00 cwt. ($22/mt or $20/nt) on the top end in the past seven days, sources note, adding a widespread belief that mills have been “bringing back production at a rate that’s not sustainable in the current market. There’s too much steel and not enough demand,” a source said.
As with last week, lead times are still trending at approximately 5-7 weeks. Current domestic HDG and Galvalume spot market prices are listed in the chart below.
| Product | $/cwt | $/mt | $/nt | Delivery | Weekly change |
| US domestic HDG base price | $31-$33 | $683-$728 | $620-$660 | ex-mill | down $1.00 cwt. on the top end |
| US domestic Galvalume base price | $31-$33 | $683-$728 | $620-$660 | ex-mill | down $1.00 cwt. on the top end |
| 0.019x41.5625 Gr80/AZ55 | $41-$43 | $904-$948 | $820-$860 | ex-mill | down $1.00 cwt. on the top end |