US HDG spot market holds steady

Monday, 04 February 2019 00:27:31 (GMT+3)   |   San Diego
       

Although the jury is still out as to whether flat rolled steel mills’ recent price increase will succeed in pushing the spot market higher, US domestic HDG market players have said the announcements “seem to have stopped the bleeding.”

Low-ball deals are no longer available, sources note, adding that mills have become less willing to negotiate.  Some have indicated that transaction prices, while still in the current range, are beginning to firm within that range.

Market fundamentals, such as lead times and order activity, continue to remain stable. The current wildcard, sources note, relates to where scrap prices will settle during this month’s buy cycle, as this could play a large role in whether prices hold steady or begin to inch upward.

Current average price transaction ranges are listed in the chart below.
 

EX-Mill Cwt. Metric Ton (mt) Net ton (nt) Change from last week
US domestic HDG base price $39-$41 $860-$904 $780-$820 neutral
5-Feb-18 $41.00-$42.50 $904-$937 $820-$850 ###
         
US domestic Galvalume base price $39-$41 $860-$904 $780-$820 neutral
5-Feb-18 $41.00-$42.50 $904-$937 $820-$850 ###
         
0.019x41.5625 Gr80/AZ55 $49-$51 $1,080-$1,124 $980-$1,020 neutral
5-Feb-18 $49.50-$51.50 $1091-$1135 $990-$1030 ##

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