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US hot-dipped galvanized (HDG) and cold-rolled coil (CRC) prices continued to increase after the holiday week.
The Argus weekly ex-works US HDG assessment rose by $40/short ton (st) to $1,040/st, while the US CRC ex-works assessment increased by $20/st to $1,080/st.
The moves mark the first increase for HDG pricing since mid-April and the second consecutive weekly increase for CRC.
HDG pricing has dropped by 24pc since mid-April, while CRC is down by 22pc from its early-April peak.
A low offer of $980/st was reported by a buyer for 500-600st of HDG, while repeatable offers were between $1,000-1,080/st. Some service centers reported higher offers between $1,100-1,150, target prices by the mills that have not been realized yet.
Repeatable CRC offers were reported between $1,080-1,125/st, with one Midwest mill reporting selling around 100st of CRC at $1,200/st, with the tonnage outside of Argus' methodology.
One buyer reported HDG and CRC import base prices of $980/st for October and November delivery out of Vietnam, while another reported $960/st for CRC and $1,100/st for HDG. Import volumes of HDG and CRC are expected to fall in June compared to the prior year by 24pc and 41pc, respectively, according to license data from the US Department of Commerce.
The weekly Argus average US HDG mill lead time extended to 5-8 weeks from 5-6 weeks while the CRC mill lead times rose to 7-8 weeks from 6-7 weeks.
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- [Editor:kangmingfei]
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