US HDG spot market still steady

As with last week, sources close to SteelOrbis have confirmed that US domestic hot dipped galvanized (HDG) spot market prices are “steady but flexible this week.” However, although some had previously questioned whether spot market prices might endure further corrections, the growing expectation that scrap prices may firm during the March buy cycle has quelled that worry.

“Lead times seem to be showing some improvement, and rumors that another price increase announcement may be on the horizon have a lot of us thinking that the market might not go any lower,” a source noted.

This week’s price ranges for coated steel products are listed in the chart below.