As with last week, the US domestic flat rolled steel market continues to face downward pricing pressure as buyers are reluctant to make bulk purchases until they’re sure that prices have finally settled. This is especially true in light of current predictions that US scrap prices are expected to settle down by $10-$30/gt during the May buy-cycle.
Ex-mill demand is slower than mills would like, sources note, which has also contributed to this week’s ex-mill price revision. Spot market business at the service center level, however, is described as being healthy.
Current US HDG spot market prices are listed in the chart below.
Product | $/cwt | $/mt | $/nt | Delivery | Weekly change |
US domestic HDG base price | $40-$42 | $882-$926 | $800-$840 | ex-mill | down $0.50 cwt. |
US domestic Galvalume base price | $40-$42 | $882-$926 | $800-$840 | ex-mill | down $0.50 cwt. |
0.019x41.5625 Gr80/AZ55 | $50-$52 | $1,102-$1,146 | $1,000-$1,040 | ex-mill | down $0.50 cwt. |