Buyers and sellers of US domestic hot dipped galvanized (HDG) coil are wondering if the weeks-long pricing slide has finally come to an end. Yet while prices have remained stable since our last report, which one source describe as being “a welcome break from the downward trajectory,” concerns persist that the stabilization is only temporary.
On one hand, it’s believed that mills’ profit margins are becoming far too slim, which may prevent further slippage within the spot market. On the other, there’s concern that seasonal factors, such as the “annual summer doldrums” could place additional pressure on the market.
“It’s anyone’s guess as to how this is going to play out, but at some point, the slide is going to have to stop,” a source said. “The big question is when’s going to happen.”
Current US HDG spot market prices are listed in the chart below.
Product | $/cwt | $/mt | $/nt | Delivery | Weekly change |
US domestic HDG base price | $34.50-$36.50 | $761-$805 | $690-$730 | ex-mill | neutral |
US domestic Galvalume base price | $34.50-$36.50 | $761-$805 | $690-$730 | ex-mill | neutral |
0.019x41.5625 Gr80/AZ55 | $44.50-$46.50 | $981-$1,025 | $890-$930 | ex-mill | neutral |