US HDG prices exhibit increased flexibility

The most commonly heard spot price transaction range for US domestic hot dipped galvanized (HDG) coil has softened by $1.00 cwt. ($22/mt or $20/nt) since our last report a week ago. Sources close to SteelOrbis have indicated this is largely due to mills’ desire to pad their order books. Lead times from some mills, another source said, are as short as six weeks. Buyers continue to report they’re making purchases on an as-needed basis, as many still fear the market has reached its peak and that a correction may soon be on the horizon.