Galvanized Spot Pricing as of 2/18/15. As you can see prices have dropped steadily since August of 2014. We have seen a drastic drop since the beginning of the year, and towards the end of 2014. Steel prices have very steeply declined. There is a glut of foreign material, but the cost of scrap and energy has also declined helping fuel the price cuts. We do not think the domestic mills can keep operating at these prices. I believe there is a little more room for prices to drop, but I believe the bottom has to be near. Keep an eye out for antidumping suits to be filed.