US HDG prices drop on the heels of soft scrap prices

Monday, 07 October 2019 21:14:38 (GMT+3)   |   San Diego
       

Spot market prices for US domestic hot dipped galvanized and Galvalume coil have adjusted downward by approximately $3.00 cwt. ($66/mt or $60/nt) since our last report a week ago. Sources close to SteelOrbis have indicated that less-than-desired purchasing activity coupled with this month’s sharp drop in domestic scrap prices have both played a role in this revision.

“Domestic mill HDG base pricing, today is in the $33-$34/cwt, range with bigger transactions likely a bit lower,” a source said. “We suspect that this number will continue to drift down towards $30ish before the slide is over.”

Current US domestic HDG / Galvalume prices are listed in the chart below.
 

Product $/cwt $/mt $/nt Delivery Weekly change
US domestic HDG base price $33-$34 $728-$750 $660-$680 ex-mill down $3.00 cwt.  
           
US domestic Galvalume base price $34-$35 $750-$772 $680-$700 ex-mill down $2.00 cwt. 
           
0.019x41.5625 Gr80/AZ55 $45-$46 $992-$1,014 $900-$920 ex-mill down $1.00 cwt. 

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