As in previous weeks, spot market prices for US domestic HDG and Galvalume have continued to firm, and many within the market believe that prices will climb in June, as domestic scrap prices are expected to rise.
Sources close to SteelOrbis have started to compare inventory building to high-stakes gambling. On one hand, people want to build some inventory because prices keep jumping week-over-week. On the other hand, people are concerned about building inventory at today’s record-high prices, out of concern that the runup on sheet steel products “could come to a screeching halt,” and because “we’re concerned that if the price bubble pops that this thing will fall like a lead balloon.”
Similar to last week, lead times are trending at 11+ weeks for HDG, and at more than 12 weeks for Galvalume coil.
This week’s prices are listed in the chart below.
| Product | $/cwt | $/mt | $/nt | Last week | Delivery |
| US domestic HDG base price | $88-$90 | $1,940-$1,984 | $1,760-$1,800 | $87-$89 | ex-mill |
| 0.012” G30 HDG coil | $99+ | $2,183+ | $1,980+ | $97-$99 | ex-mill |
| US domestic Galvalume base price | $88-$90 | $1,940-$1,984 | $1,760-$1,800 | $87-$89 | ex-mill |
| 0.019x41.5625 Gr80/AZ55 | $99+ | $2,183+ | $1,980+ | $97-$99 | ex-mill |