<article><p class="lead">US hot-dipped galvanized (HDG) and cold-rolled coil (CRC) prices continued to slide this week to their lowest levels since the end of February as mills cut offers alongside hot rolled coil (HRC) prices.</p><p>The <i>Argus</i> weekly US HDG assessment dropped by $51.75/short ton (st) to $1,168.25/short ton (st), while the US CRC assessment fell by $64.50/st to $1,171.50/st. Prices are on an ex-works basis.</p><p>US HDG offers remained in a very wide range. Market sources indicated potential offers as low as $1,000/st and as high as $1,250/st. A mill said they were still attempting to hold a $200/st spread to HRC but the price "range is very odd right now."</p><p>Based on his HRC indications, HDG prices would be the equivalent of $1,180-1,200/st based on a $200/st spread. </p><p>Multiple sources indicated lower offers were more consistently closer to $1,100/st for larger tonnage inquiries. A service center source added smaller HDG offers were at $1,160-1,180/st.</p><p>A sell-side source said some of their buyers were indicating they had more competitive offers below $1,100/st but said the range remained very wide at $1,100-1,250/st. </p><p>"Shipments are maintaining, we will see how these last two days of the month finish up," added the seller.</p><p>The lower HDG prices came as will struggled to fill up July order books. The weekly <i>Argus</i> average US HDG mill lead time dropped to 4-6 weeks from 6-7 weeks.</p><p>US CRC prices also were available in a wide range over the past week. Sources reported indicated levels between $1,020-1,280/st, with more repeatable levels between $1,180-1,280/st.</p><p>The weekly <i>Argus</i> US CRC lead time average also fell to 4-6 weeks from 6-7 weeks.</p></article>
