Galvanized Prices Still Firm as Most Mills Sold Out Through August

A second mill told SMU they were booked into September having rolled prices from August levels. Their expectation was for a slow booking week this week due to the 4th of July holiday but they expected buyers to be back in the market next week. They did not see any reason for prices to change as they continue to book September production.

We heard from buyers that many, if not all, of the Nucor facilities were booked solid on galvanized. Nucor continues to control order entry on galvanized (“inquire”).

A steel buyer in the Southeast told SMU, “They [Nucor] are telling me they are pretty much sold out on galvanize.  Hickman has a small amount for August – I am sure that is gone.  Calvert is still in August (they are always late so it may as well be September). I have seen spotty availability from SDI – nothing on Galvalume.  USS quoted me a 43 base last week which is the highest I have seen.  It is a typical mid-summer lull but the mills seem to be holding their ground.  A mill told me that big buyers have been out fishing but no one was swallowing the bait right now….”

NLMK USA is quoting mid to late September lead times on galvanized, according to the lead time sheet they sent to customers earlier this week.

SDI Columbus was reported to have late August availability on galvanized as of late last week. As of earlier this week the Butler plant and The Techs still have August availability. Wheeling-Nisshin was also reported to have tonnage available for late August/1st week September production.

A customer who asked USS for a quote on light gauge galvanized was told September out of Fairfield.

The first week of September production equates to an eight to nine week lead time.