October import arrivals flooding US HDG market

Tuesday, 28 October 2014 23:54:52 (GMT+3)   |   San Diego
       

It’s been long speculated that US import hot dipped galvanized (HDG) tonnages for October could topple those seen in September; October 24 data from the Steel Monitoring Import and Analysis (SIMA) seem to support that belief.  Based on the most recent license data, current import tonnages for this month are already at 259,381 mt, which is only about 40,000 mt shy of September totals.  “A lot of people bought early with the idea that they’d get their steel in before a trade case was filed,” according to one Midwest-based trader source, “and at this point all those tons are starting to flood the docks.”

In terms of import offer prices, everything has mostly remained steady in the past seven days, outside of Brazilian mills revising prices in hopes of attracting orders. Trader sources in Mumbai, however, have said that they are having a hard time evoking interest from US buyers, even after they previously took offer pricing down.  Sources within the US say at this point, most are “just too skittish to buy.”

 

Import HDG offers to the US Cwt. Metric ton (mt) Net ton (nt) Change from last week
         
0.012”x40.875” G30        
         
China* $42.00-$43.00  $926-$950 $840-$860 neutral
India* $42.00-$43.00  $926-$950 $840-$860 neutral
         
0.019" x 48" G90        
         
China* $39.50-$40.50 $871-$893 $790-$810 neutral
India* $43.25-$44.25 $953-$976 $865-$885 neutral
         
         
Import Galvalume offers to the US        
0.019x41.5625 Gr80/AZ55        
         
China* $43.00-$44.00 $948-$970 $860-$880 neutral
India* $43.75-$44.75 $965-$970 $875-895 neutral
Brazil $40.50-$41.50 $892-$914 $810-830 down $1.50 cwt. 
*DDP loaded truck in US Gulf ports        

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