US steelmakers secured higher hot-dipped galvanized (HDG) coil pricing this week as supply tightened further. The price rose by $30/short ton (st) to $1,150/st, the seventh consecutive week of increases. Some steelmakers with limited availability through January have posted minimum HDG prices of $1,200/st, but no one reported securing at those levels. One southern mill said they have limited availability until March for HDG and cold rolled coil (CRC).
HDG lead times jumped to 11 weeks from 9.5 weeks in the prior week, showing the tightness in supply. Increased HDG import purchasing has been reported, which could come in February or March. Cold rolled lead times jumped to 11 weeks from 9.1 weeks, sticking with coated products.
US hot-rolled coil (HRC) prices were flat this week for the first time in a month as mills failed to secure the higher prices they pushed for last week. Prices remain up by $240/st or 34pc from September lows and are 25pc lower than the 2023 peak of $1,200/st in April. Sales and purchases were reported at $900/st for a few hundred short tons up to 1,000st.
The possibility of an influx of imports has worried some, but the options to source foreign steel are relatively limited with 25pc Section 232 tariffs still applying to most of the world. HRC import rose by $34/st to $820/st ddp Houston on higher South Korean and Vietnam offers.
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