US HDG/CRC: Prices jump on sales

US hot-dipped galvanized (HDG) coil and cold-rolled coil (CRC) prices jumped as mills locked in higher prices.

The Argus weekly US HDG price jumped by $70/short ton (st) to $1,120/st, the second such increase in three weeks.

A sale of $1,120/st for a small order was reported from a mill, while another mill reported selling at $1,150/st. Another mill offered at $1,100/st for 500st of material, while repeatable offers were reported between $1,100-1,150/st.

Coated products remain the tightest, with lead times flat at 9.5 weeks and the highest of any flat steel product. The limited availability is pushing some mills to be almost full for January already, a full 12 weeks out.

CRC prices rose by $50/st to $1,100/st as a smaller purchase was reported at that level for 150st, below Argus' tonnage threshold but indicating mills' willingness to sell even smaller tons at lower prices. Other mills reported selling 200-300st at $1,150-1,160/st. Repeatable offers were between $1,100-1,150/st.

Cold rolled lead times fell to 9.1 weeks from 9.5 weeks.