US import hot dipped
galvanized (HDG) coil prices from Indian steelmakers continue to trend in the approximate range of $635-$650/mt FOB, but sources close to SteelOrbis continue to report the buyers’ interest is still trending weak due to ongoing declines in
US spot market pricing.
“A lot of people are waiting to see where the domestic market settles,” one source said. Indian sources say they too expect
US interest to continue to trend weak, especially since Indian steelmakers aren’t currently able to offer more aggressive pricing.
In terms of
US import Galvalume offer pricing from
Brazil, this continues trend at $860/mt FOB. Brazilian steelmakers have further stated that Brazilian domestic hot rolled coil (HRC) prices are expected to remain stable in September, which is further expected to lend stability to Brazilian export Galvalume offer prices to the
US.
Sept. 2 data from the
US Department of Commerce, Enforcement and Compliance indicates that for the month of August, the
US imported 18,211 mt (license data) of hot dipped
galvanized sheets and strip from Brazilian steelmakers; in contrast, Indian steelmakers shipped 124.4 mt (license data) of hot dipped
galvanized sheets and strip to
US buyers during the same reporting period.