Last week, SteelOrbis reported that flats mills were increasingly open to negotiating price for US domestic HDG coil. This week, the deals have become prevalent enough that the average spot market price range has widened by $1.00 cwt. ($22/mt or $20/nt) on the bottom end; sources say they expect to see a correction on the top end of the range in the upcoming weeks.
The trend is directly tied to price softening that’s been seen for US domestic hot rolled coil.
Current market activity is quiet, which is typical of the first week in September. Many within the steel industry took the latter part of last week, along with the early part of the current week, off to celebrate the Labor Day holiday.
The updated average spot market price transaction range is listed below.
|
Cwt. |
Metric Ton (mt) |
Net ton (nt) |
Change from last week |
US domestic HDG base price |
$47-$50 |
$1,036-$1,102 |
$960-$1,000 |
down by $1.00 cwt. on the bottom end |
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US domestic Galvalume base price |
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|
ex-Midwest mill |
$47-$50 |
$1,036-$1,102 |
$960-$1,000 |
down by $1.00 cwt. on the bottom end |
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|
0.019x41.5625 Gr80/AZ55 |
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|
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|
ex-Midwest mill |
$57-$59 |
$1,256-$1,301 |
$1,160-$1,180 |
down by $1.00 cwt. on the bottom end |