The most commonly heard spot market offers for base-price US domestic hot dipped galvanized (HDG) may be stable week-over-week, but sources close to SteelOrbis report rumors that mills may try to push out another price increase before the end of the month.
Other sources, however, say a second increase would be premature, as US scrap prices did not move up significantly during this month’s buy cycle.
On Friday, SteelOrbis reported that scrap the Ohio valley traded at strong-sideways; scrap on the East coast traded at sideways.
“We’re getting to that point in the year where deals are being made,” a source said. “I think if mills try to raise prices again before the end of the year, the increase will be met with a lot of resistance because scrap stayed sideways and lead times aren’t jumping out.”
Cwt. | Metric Ton (mt) | Net ton (nt) | Change from last week | |
US domestic HDG base price | $37.00-$39.50 | $816-$871 | $740-$790 | neutral |
0.012”x40.875” G30 | ||||
ex-Midwest mill | $45.50-$47.50 | $1003-$1047 | $910-$950 | neutral |
0.019”x48” G90 | ||||
ex-Midwest mill | $45.50-$47.50 | $1003-$1047 | $910-$950 | neutral |
US domestic Galvalume base price | ||||
ex-Midwest mill | $37.00-$39.50 | $816-$871 | $740-$790 | neutral |
0.019x41.5625 Gr80/AZ55 | ||||
ex-Midwest mill | $45.50-$47.50 | $1003-$1047 | $910-$950 | neutral |