US domestic coated steel prices have trended upward since our last report a week ago. The uptrend comes on the heels of a third announced price increase from US domestic flats mills. Current price points for base price HDG and Galvalume coil have risen by approximately $1.50 cwt. ($33/mt or $30/nt) in the past seven days, although sources close to SteelOrbis have said that mills continue to quote higher.
“All of this is artificial, because the demand just isn’t there,” a source said. “Yes, the mills sold a bunch of steel when the market bottomed out, which helped push lead times out, which in turn, helped get prices up. The problem is that these lead times were fabricated based on big buys.”
In terms of current market activity, sources close to SteelOrbis say that while mills continue to quote at price points above today’s average range, buyers are taking a “wait and see” approach.
“I think a lot of people was waiting to see what happens with scrap this month,” a source said. “That’s going to determine how much leverage mills are going to have when it comes to holding their line.”
Current US domestic HDG / Galvalume prices are listed in the chart below.
| Product | $/cwt | $/mt | $/nt | Delivery | Weekly change |
| US domestic HDG base price | $36-$37 | $794-$816 | $720-$740 | ex-mill | up $1.50 cwt. on the bottom, up $1.00 cwt. on the top |
| US domestic Galvalume base price | $37-$38 | $816-$838 | $740-$760 | ex-mill | up $1.50 cwt. on the bottom, up $1.00 cwt. on the top |
| 0.019x41.5625 Gr80/AZ55 | $47.50-$48.50 | $1,047-$1,069 | $950-$970 | ex-mill | neutral |