The slow, downward drift in
US domestic hot dipped
galvanized (HDG) and Galvalume coil markets continues to have
US import HDG buyers trending wary.
Indian mills, which reduced export pricing of HDG coil by $10-$15/mt two weeks ago, to $625-$630/mt FOB, continue to report lackluster interest from
US-based buyers. Sources close to SteelOrbis say that a lot of buyers are waiting for
US spot market prices to bottom before they commit to booking tons offshore.
Ex-Brazil prices for HDG G40 grade, less than 4.75mm thickness, have also been reduced by $30/mt since our last report. Current pricing is being heard at $726/mt FOB. Sources close to SteelOrbis report that current ex-Brazil pricing has been reduced due to “market pressure.”