Pittsburgh — S&P Global Platts' US hot-dipped galvanized assessment moved up Monday asmills continued to pursue higher base and zinc-extra pricing, according tomarket feedback.
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The weekly Platts TSI assessment of 16-gauge HDG sheet with G90 coatingwas calculated at $870/st, up $10.75/st on week.
A US mill reported selling more than 300 st at $899/st Friday, whileanother US mill reported a transaction at $840/st.
While some buyers said they have seen their galvanized base offers moveup since US mills announced a $30/st price increase in November, others saidthey were not seeing much movement in base pricing. On top of the base priceincrease, a number of US mills have raised zinc coating extras, with SteelDynamics Inc. being the latest, announcing last week it would be increasingits coating extras for January.
"The base price announcements seem to be a nonstarter, but I think thezinc price extras will be adopted and that will make galvanized moreexpensive," a service center source said.
He said galvanized lead times are "tepid" at the moment at aroundsix-and-a-half weeks. A US mill reported its lead times were around eightweeks for galv.
Pricing in the galvanized market is "still a bit muddy," another servicecenter source said.
"Buyers are whining that the increased zinc extras and base prices aretoo much," the source said. "However, at least the mills are getting a bitmore optimistic that they are getting prices up as they figure out that thecheaper prices [seen last month] are really are not as rampant as they were."
Hot-rolled and cold-rolled coil prices also moved up Monday to start theweek.
The daily Platts TSI US HRC assessment was calculated at $624.75/stMonday, up $8 from Friday. US mills reported sales in the range of$630-$638/st late last week.
Most mills are pushing for $640/st on HRC, the second service centersource said, but lower pricing may be available if buyers are willing to putin the effort to negotiate, the second service center source said.
The daily Platts TSI US CRC assessment, meanwhile, was calculated at$799/st Monday, up $2.25 from Friday. US mills reported transactions from latelast week in the range of $798-$835/st.
--Justine Coyne, firstname.lastname@example.org
--Edited by Richard Rubin, email@example.com