As previously expected, US domestic HDG prices have continued to climb since our last report a week ago. Current spot market prices are up week-over-week once again, and multiple sources are questioning how high the market can go.
“I think this has been driven by panic buying—as in, ‘if I don’t overpay today, I’ll be forced to overpay by even more tomorrow’,” a source said. “I think a lot of people have been double-buying, as much as they can, to guarantee sufficient supply for future months.”
A second source agreed, adding he thinks the market is close to its peak. “I think we’re about to see some cracks in pricing sooner than later, and I wouldn’t be surprised if that happened in February,” he said. “But then again, nothing about this market is rational, and for all we know, prices could come up another $2.00 cwt. ($44/mt or $40/nt) before the end of the month. It’s really anyone’s guess.”
Current prices are listed in the chart below.
| Product | $/cwt | $/mt | $/nt | Previous range | Delivery |
| US domestic HDG base price | $62-$63 | $1,367-$1,389 | $1,240-$1,260 | $60-$62 | ex-mill |
| US domestic Galvalume base price | $62-$63 | $1,367-$1,389 | $1,240-$1,260 | $55+ | ex-mill |
| 0.019x41.5625 Gr80/AZ55 | $72-$73 | $1,587-$1,609 | $1,440-$1,460 | $70-$72 | ex-mill |