Steel Products Prices North America
HARDI Members Bullish on Demand
Written by Becca Moczygemba
February 21, 2023
Galvanized sheet continues to be in high demand, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) Sheet Metal/Air Handling Council.
Since the January HARDI meeting, prices have increased, lead times have extended, scrap is up, and zinc is down. Despite the roller coaster, HARDI members remain bullish on demand in general.
“Demand is steady, forecasts remain strong throughout the year. We’ve got good orders on the books and demand should remain steady, so full-steam ahead right now,” said one West Coast member.
Another member from the East Coast echoed the sentiment, noting that commercial construction has been strong, with residential construction trailing behind.
“Demand has been substantially better than Q4 of last year. Expected demand is good. There are a lot of pent-up jobs in our marketplace that haven’t started,” he said.
It was also mentioned that demand is strong in the Midwest, which is expected to continue. Additionally, price hikes are now being reflected at the street level. In January, pricing had not yet trickled down to the end-user.
Another notable topic during the meeting was the amount of consolidation that has happened over the past 10 years. “I think we’re in a new reality and we’re just going to have to adjust a little bit,” said one HARDI member.
As steel price increases follow one after another, the question remains as to where they will plateau.
According to some members, heating, ventilation, and air conditioning (HVAC) demand has been really good, and agriculture is especially busy. “We’re seeing a lot of holes in agriculture and those guys have been steady. There’s a lot of building going on,” said an East Coast participant. He added that inventory levels have also been stable, but extending lead times is something to keep a close eye on.
On the Feb. 21 HARDI call, 59% of members present predicted galv prices would be up more than $2 per hundredweight over the next month. Another 28% predicted prices to be up more than $4/cwt, and 6% said prices would be up more than $6/cwt. Looking out six months, 28% anticipate prices will be up more than $2/cwt, while 25% predicted pricing to go beyond $6/cwt, and another 16% anticipate prices to be flat.
Steel Market Update participates in a monthly steel conference call hosted by HARDI. The call is dedicated to a better understanding of the galvanized steel market. The participants are HARDI member companies, wholesalers who supply products to the construction markets. Also on the call are service centers and manufacturing companies that either buy or sell galvanized sheet and coil products used in the HVAC industry and are suppliers to the HARDI member companies.
By Becca Moczygemba, becca@steelmarketupdate.com
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/becca-moczygemba-150x150.png)
Becca Moczygemba
Read more from Becca MoczygembaLatest in Steel Products Prices North America
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Longs pricing trends diverge in North, South America
Most longs prices in the US were unchanged this month, except for rebar, which declined by $1.50/cwt ($30/short ton) m/m. While end-use demand is stable, inventories are well-stocked, keeping purchases limited. Domestic availability is sufficient to meet current demand, hindering the appetite for imported material. Meanwhile, prices for scrap remained under pressure in June, with […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor cuts plate prices by $125/ton, cites ongoing competition
Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Nucor.png)
Nucor cuts HR price for fourth straight week
Nucor lowered its consumer spot price (CSP) for hot-rolled (HR) coil by another $10 per short ton (st) for the first week of July. The steelmaker said in a letter to customers on Monday that its CSP base price for the week will be $670/st for all of its sheet mills with the exception of California Steel Industries (CSI).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/Cliffs_logo2.2.png)
Cliffs sets $720/ton HR price with opening of August books
Cleveland-Cliffs on Tuesday announced its monthly hot-rolled (HR) coil price of $720 per short ton (st) with the official opening of its August order book. The rate is down from last month’s price of $800/st.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/CRU-Logo-2023-07-21-at-4.35.41-PM.png)
CRU: Demand weakness continues to weigh on global sheet markets
Demand has remained persistently weak across the globe for sheet steel, weighing on prices. US HR coil prices fell the furthest this week as high-volume, low-priced deals were transacted as mills looked to fill order books and competed with one another amid relative demand weakness. Meanwhile, European prices were also down due to low demand […]