US HDG spot market prices mostly steady, for now

Monday, 09 September 2019 20:47:39 (GMT+3)   |   San Diego
       

Spot market prices for US domestic HDG coil are mostly stable, week-over-week, although as with last week, deals up to $2.00 cwt. ($44/mt or $40/nt) below the average spot range are still available based on volume.

Sources close to SteelOrbis, however, say they expect the market will place downward pressure in the upcoming days and weeks. The belief that prices may begin to soften is tied to two key factors: tepid demand and decreased scrap prices. On Friday, SteelOrbis reported that US scrap prices settled down by $30-$40/mt, which was a steeper decline than initially expected.

Current US HDG spot market prices are listed in the chart below. Downward revisions are likely to take place before the end of the month.

Product $/cwt $/mt $/nt Delivery Weekly change
US domestic HDG base price $37-$38 $816-$838 $740-$760 ex-mill neutral with deals
           
US domestic Galvalume base price $37-$38 $816-$838 $740-$760 ex-mill neutral with deals
           
0.019x41.5625 Gr80/AZ55 $47-$48 $1,036-$1,058 $940-$960 ex-mill neutral with deals

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