Offshore bookings and arrivals for US import hot dipped galvanized sheets and strip have fallen off substantially between Dec. 2015 and Dec 2015. In Dec 2014, US global import tonnages were calculated at 261,003 mt (census data), with the most significant offshore tonnages arriving from China (65,221 mt) and India (47,251 mt).
One year later, total US import tonnages for hot dipped galvanized sheets and strip fell to 183,749 mt (license data). US import tonnages from China and India were recorded at 399.9 mt and 174.1 mt, respectively, which is largely tied to the still-pending trade case against mills from both countries. On the other hand, US import HDG tonnages from Brazilian steel producers are up year-on-year, from 19,656 mt (census data) in Dec. 2014 to 27,993 mt (license data) in Dec. 2015.
Indian exporters had been hopeful that the recent price increase announcement by US domestic flat rolled steel producers would lead to increased interest in booking offshore, especially since preliminary trade case margins against Indian steel producers were relatively low. US buyers, however, have remained reluctant to book tonnages HDG tonnages from India,
Others point out that a reluctance to book offshore may also be tied to skepticism that the recent price firming within the US domestic HDG market may be temporary, noting that since buyers’ inventories are still relatively healthy, they prefer to take a wait-and-see approach when it comes to booking offshore.