As of July 2024, the price of galvanized steel coil in the U.S. is around $0.54 per pound, which equates to approximately $1,080 per ton. Here are more detailed insights:
- Market Dynamics:
- The prices for galvanized steel coil have surged due to increased demand and limited supply. Factors like post-pandemic recovery, supply chain disruptions, and geopolitical events have contributed to this price rise.
- The automotive, construction, and home appliance sectors are significant consumers, driving demand.
- Regional Variations:
- The price can vary slightly depending on the region. For example, in China, the price of galvanized steel was reported at about 4,840 CNY per metric ton, which is roughly 587.12 USD per metric ton, or about $0.27 per pound.
- Historical Price Trends:
- Prices have seen a consistent rise over the past few months due to various factors like production cuts, raw material shortages, and increased consumption from major industries.
- This price increase has been ongoing, with notable jumps in the cost of cold-rolled and hot-dipped galvanized coils.
- Supply Constraints:
- Many U.S. mills have reported delays and are prioritizing contract customers over spot buyers, which has exacerbated supply shortages and led to higher prices.
- Mills are cautious about overcommitting to spot orders due to their inability to meet existing contract demands.
- Global Influence:
- The global steel market is influenced by key players in China, Europe, and North America. China’s price dynamics, in particular, have a significant impact on global pricing trends due to its large production and consumption volumes.
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