Spot market prices for US domestic HDG and Galvalume coil in the past week, and sources continue
to tell SteelOrbis that lessened demand combined with too much capacity is likely to place additional downward pressure on the market.
“People believe the market is going to come down a bit more, so a lot of buyers are sitting on the sidelines. It’s likely to turn into a self-fulfilling prophecy,” a source said.
A second source agreed. “The smaller guys might be paying a little higher than $37 cwt. ($816/mt or $740/nt), but the big guys aren’t having any problems getting deals closer to $36 cwt. ($794/mt or $720/nt), if not slightly below.”
Market sources also believe that if domestic scrap prices trend down during the October buy cycle, that US HDG prices “are sure to follow.”
Current US HDG spot market prices are listed in the chart below.
| Product | $/cwt | $/mt | $/nt | Delivery | Weekly change |
| US domestic HDG base price | $36-$37 | $794-$816 | $720-$740 | ex-mill | down $1.00 cwt. |
| US domestic Galvalume base price | $36-$37 | $794-$816 | $720-$740 | ex-mill | down $1.00 cwt. |
| 0.019x41.5625 Gr80/AZ55 | $46-$47 | $1,014-$1,036 | $920-$940 | ex-mill | down $1.00 cwt. |