The most commonly heard spot price transaction range for US domestic hot dipped galvanized (HDG) coil has softened by an additional $1.00 cwt. ($22/mt or $20/nt) since our last report a week ago.
Sources close to SteelOrbis, however, say that it’s unlikely customers will continue to be paying prices toward the top of the current range for much longer. Softer lead times, decreased order activity and the expectation that prices will face pressure from pending import arrivals have all contributed to the downtrend.
“Everyone expects prices will drift down so people are being cautious with their buys,” a source said.
| Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
| US domestic HDG base price | $48-$50 | $1058-$1102 | $960-$1000 | down $1.00 cwt. |
| US domestic Galvalume base price | ||||
| ex-Midwest mill | $48-$50 | $1058-$1102 | $960-$1000 | neutral |
| 0.019x41.5625 Gr80/AZ55 | ||||
| ex-Midwest mill | $58-$59 | $1279-$1301 | $1160-$1180 | neutral |