US domestic hot dipped galvanized steel spot market prices have softened by $1.00 cwt. ($22/mt or $20/nt) on the top end since our last report a week ago. Lead times, which had been trending at 6-7 weeks, have softened to 5-6 weeks.
Sources close to SteelOrbis have said they’re keeping close tabs on scrap prices during the current month’s buy cycle. Although it’s been speculated that HMS, P&S, shredded and busheling scrap prices would trend down in July, early indicators point to sideways trading on cut grades, with a $10-$20/gt ($10-$20/mt) downtrend for busheling. However, firm numbers are not expected until after the July 4 holiday.
This week’s domestic HDG and Galvalume spot market prices are listed in the chart below.
| Product | $/cwt | $/mt | $/nt | Delivery | Weekly change |
| US domestic HDG base price | $34-$35 | $750-$772 | $680-$700 | ex-mill | down $1.00 cwt. on the top end |
| US domestic Galvalume base price | $34-$35 | $750-$772 | $680-$700 | ex-mill | down $1.00 cwt. on the top end |
| 0.019x41.5625 Gr80/AZ55 | $44-$45 | $970-$992 | $880-$900 | ex-mill | down $1.00 cwt. on the top end |