US HDG spot market prices still flexible

Monday, 14 January 2019 01:12:36 (GMT+3)   |   San Diego

Spot market pricing for US domestic HDG coil continues to be stable week-over-week, although some sources close to SteelOrbis have indicated that deals up to $1.00 cwt. ($22/mt or $20/nt) below the average ranges may be available to volume buyers.

Current prices are nearly identical to price ranges reported one year ago, before the Section 232 tariffs were implemented. This, sources note, continues to fuel widespread speculation that domestic mills may soon press for a price increase. Although price increase rumors have been swirling since the first week of January, mils have yet to announce. It’s also believed that any such increase announcement would not succeed in pushing prices higher, but may succeed in preventing further price erosion.

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 $40-$42 $882-$926 $800-$840 neutral
Mid-January 2018 $40.50-$42.50 $893-$937 $810-$850  ###
US domestic Galvalume base price $40-$42 $882-$926 $800-$840 neutral
Mid-January 2018 $40.50-$42.50 $893-$937 $810-$850  ###
0.019x41.5625 Gr80/AZ55 $50-$52 $1,102-$1,146 $1,000-$1,040 neutral
Mid-January 2018 $47.00-$49.50 $1,036-1,091 $940-$990 ##

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