The US domestic flat rolled steel market has been facing pressure in recent weeks, due to healthy inventory levels and shorter lead times. As such, mills have exhibited an increasing willingness to cut deals as a means of securing orders.
Spot market prices for the “average” US HDG buyer have ticked down by $1.00 cwt. in the past seven days, although some SteelOrbis sources have indicated that discounts up to $2.00 cwt. ($44/mt or $40/nt) below this range are available to volume buyers.
“Demand is slower than the mills would like, and the mills are definitely open to negotiating,” a source said. “Buyers believe that prices will continue to soften, so no one is rushing out to place orders beyond what their immediate needs call for.”
Current US HDG spot market prices are listed in the chart below.
Product | $/cwt | $/mt | $/nt | Delivery | Weekly change |
US domestic HDG base price | $40.50-$42.50 | $893-$937 | $810-$850 | ex-mill | down $1.00 cwt., with deals available for volume |
US domestic Galvalume base price | $40.50-$42.50 | $893-$937 | $810-$850 | ex-mill | down $1.00 cwt., with deals available for volume |
0.019x41.5625 Gr80/AZ55 | $50.50-$52.50 | $1,113-$1,157 | $1,010-$1,050 | ex-mill | down $1.00 cwt., with deals available for volume |