Last week, US sheet steel sources said they believed that the nearly year-long price uptrend may be close to its end. However, while some still believe that prices will peak in August or September, the big question is how high prices will go.
This week, US domestic HDG coil prices have spiked, sources note, adding that some mills are quoting “insane numbers” for spot market tons. “We’ve heard offers as high as $110 cwt. ($2,425/mt or $2,200/nt) ex-mill for base HDG coil, and if you’re talking about 012 G30, the mills that are offering are asking for $115 cwt. ($2,535/mt or $2,300/nt) ex-mill, at least.
Also of interest is the divergence in price direction between sheet steel and scrap. Earlier today, SteelOrbis reported that one Ohio Valley-based mill finalized their August scrap prices, at down $20/gt for shredded and P&S scrap, and sideways for prime grade scrap.
Current HDG prices are listed in the chart below.
| Product | $/cwt | $/mt | $/nt | late July | Delivery |
| US domestic HDG base price | $101-$110 | $2,227-$2,425 | $2,020-$2,200 | $100-$103 | ex-mill |
| 0.012” G30 HDG coil | $115+ | $2,535 | $2,300+ | $111+ | ex-mill |
| US domestic Galvalume base price | $101-$104+ | $2,227-$2,293 | $2,020-$2,080 | $100-$103 | ex-mill |
| 0.019x41.5625 Gr80/AZ55 | $112+ | $2,469 | $2,240 | $111+ | ex-mill |