HARDI Wholesalers Worry As Steel Mills Drop Galvanized Pricing

Earlier today Steel Market Update (SMU) participated in the monthly steel conference call hosted by HARDI. The call is for those wholesalers who supply galvanized sheet and coil to the HVAC mechanical contractors. During the course of the discussion it became clear that the wholesalers are quite concerned about the drop in galvanized spot prices out of the domestic steel mills that has become more apparent since our last call one month ago.

One of the service centers on the call called out the steel mills as having been playing  a “game of chicken” with steel buyers with the mills flinching first. They questioned whether the steel mills had just overshot the market resulting in a bit of a correction taking place or, is there something more severe going on?