In the past seven days, US import hot dipped galvanized coil prices from China and India have declined by approximately $0.50 cwt. ($11/mt or $10/nt) across the board.
Inventories within the US are described as “healthy” according to SteelOrbis sources, and downward pricing within the US domestic market is starting to raise eyebrows. And although US prices are still at “premium” levels compared to offshore offers, many believe the “downward drift” in spot prices have not yet reached bottom. At the same time, market activity is expected to continue to taper into the New Year, and sources say that Indian exporters are taking a wait-and-see approach to their pricing, and may hold off on putting out new offer prices until Q1.
| Import HDG offers to the US | Cwt. | Metric ton (mt) | Net ton (nt) | Change from last week |
| 0.012”x40.875” G30 | ||||
| China* | $40.50-$41.50 | $892-$914 | $810-830 | down $0.50 cwt. |
| India* | $41.50-$42.50 | $915-$937 | $830-$850 | down $0.50 cwt. |
| 0.019" x 48" G90 | ||||
| China* | $39-$40 | $860-$882 | $780-$800 | down $0.50 cwt. |
| India* | $42.25-$43.25 | $931-$954 | $845-$865 | down $0.50 cwt. |
| Import Galvalume offers to the US | ||||
| 0.019x41.5625 Gr80/AZ55 | ||||
| China* | $42.00-$43.00 | $926-$950 | $840-$860 | neutral |
| India* | $42.00-$43.00 | $926-$950 | $840-$860 | neutral |
| Brazil* | $40.50-$41.50 | $892-$914 | $810-830 | neutral |
| Korea* | $42.00-$43.00 | $926-$950 | $840-$860 | neutral |
| Taiwan* | $42.00-$43.00 | $926-$950 | $840-$860 | neutral |
| Mexico | $40.50-$42.00 | $893-$926 | $810-$840 | neutral |
| *DDP loaded truck in US Gulf ports |