Two weeks ago, US flat rolled steel mills announced they would be raising spot market prices on all flat rolled steel products, including hot dipped galvanized (HDG) coil, effective immediately. Last week, SteelOrbis reported that in the wake of the price increase, prices had risen by $0.50 cwt. on the low end and by $1.50 cwt. on the top end, which brought the average transaction range to $40.50-$42.50 cwt. ($893-$937/mt or $810-$850/nt), ex-Midwest mill.
Today, prices have firmed by an additional $0.50 cwt. ($11/mt or $10/nt), which brings the current average transaction range for base-price HDG coil to $41-$43 cwt. ($904-$948/mt or $820-$860/nt), ex-Midwest mill. Sources close to SteelOrbis, however, note that the bulk of transactions are taking place “in the middle of that range.”
Lead times continue to trend between six and eight weeks, sources say, adding that the US steel market continues to have “a lot of optimism now that President Trump has been sworn into office.”
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $41-$43 | $904-$948 | $820-$860 | up $0.50 cwt. |
| 0.012”x40.875” G30 | ||||
| ex-Midwest mill | $48.00-$49.50 | $1052-1091 | $960-$990 | up $1.00 cwt. on the low end |
| 0.019”x48” G90 | ||||
| ex-Midwest mill | $48.00-$49.50 | $1052-1091 | $960-$990 | up $1.00 cwt. on the low end |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $41-$43 | $904-$948 | $820-$860 | up $0.50 cwt. |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $48.50-$51.50 | $1069-$1135 | $970-$1030 | up $1.50 cwt. on the bottom end, up $2.00 cwt. on the top end |