Market Data
July 21, 2026
HARDI: Galvanized steel prices grind higher, no slips in sight
Written by Kristen DiLandro
The galvanized steel market isn’t surging anymore; it’s grinding.
During the monthly HARDI sheet metal and air-handling call on Tuesday, participants characterized the upward pricing trend as “a grind.” In contrast to past years when prices have soared and then slowly weakened across months, the callers described the recent market conditions as gaining momentum incrementally.
Callers described feeling caught between steady-to-rising demand from customers and tightening supply from manufacturers. Transportation constraints caused by fleet shortages and escalating fuel costs have tempered but remain a consideration.
Caller Sentiment
Galvanized steel buyers weighed in on the conditions they’ve been experiencing over the month.
A national service center source commented on how initial supply constraints shaped conditions that have given way to the current market conditions.
“The supply-driven increase at first turned into demand once spring kicked in,” he said.
Noting, “No near-term change in current price direction; I think it’s still going to continue to grind up.”
The sentiment was echoed by another participant from a large-scale processing center.
“I don’t see any cracks in the market. This thing is just going to continue to grind up higher over the next couple of months. We’re seeing delays and feeling the squeeze,” he said.
Another caller said he, too, found that demand has continually increased.
“Demand has gradually increased for us through the year. Inventories are still lower than our comfortable average,” he commented.
One caller broadened the discussion to include a macro view of the market landscape.
“I think that tubulars are going to be buying up material. It’s going to be a potential supply issue going forward,” he said.
Market Outlook
Each monthly call includes an informal polling session that allows participants to informally share predictions about market prices.
A weighty majority of participants (72%) said they expect prices to increase by more than $2 per hundredweight (cwt) in 30 days. Only 11% of participants expect prices to remain ~flat within a $2 margin of current prices. And a bullish 14% anticipate prices to increase by more than $4/cwt.
Half of participants (50%) predict that in six months prices will remain stable, within a $2/cwt range of the market’s current prices. Forty-four percent of respondents are split evenly between anticipating prices will drop by more than $2/cwt (22%) and expecting prices to rise by more than $2/cwt (22%). The remaining 6% project prices will be up by more than $6/cwt.
Within the next 12 months, most respondents (61%) predict prices will range from $60 to $69/cwt. Another 22% predict prices over the same period will range from $70 to $79/cwt. On the bearish side, 11% anticipate prices will be between $50-59/cwt, while the bullish respondents (6%) expect that prices will range $80-89/cwt.
