Sources close to SteelOrbis have confirmed that spot market prices for US import HDG and Galvalume are stable week-over-week, and some sources close to SteelOrbis say they believe that the continued upward trajectory in domestic pricinig makes it “more palatable to book imports, even though import prices are at historic highs.”
“Domestic prices are still rising and we expect they’ll remain high into Q4,” a source said. “With that mindset, anything we [book offshore] today will still be cheaper than domestic steel by the time it arrives.”
And while all sources polled believe that price correction (for domestically produced steel) will happen, what differs is their opinion as to where spot market prices will settle. Whereas some believe that prices will settle down by “more than 50%, once the market finally turns, which may not be until sometime in 2022,” others feel that prices will come down by 20-30% before settling at a new (higher than historically average priced) normal.
This week’s prices are listed in the chart below.
| 0.012” G30 HDG coil | $/cwt | $/mt | $/nt | previously | Delivery |
| UAE | $98+ | $2,161 | $1,960 | $98+ | DDP loaded truck in US Gulf ports |
| Galvalume coil 019 Gr80/AZ55 | |||||
| Vietnam | $97+ | $2,138 | $1,940 | $97+ | DDP loaded truck in US Gulf ports |
| Mexico | $97+ | $2,138 | $1,940 | $97+ | FOB Houston |