Sources close to SteelOrbis have confirmed that the US import hot dipped galvanized (HDG) and Galvalume coil markets are trending quiet due to many within the US steel industry having taken the remainder of the week off to extend the 4th of July holiday.
In terms of current futures offers, sources close to SteelOrbis have confirmed that ex-Brazil offer prices for Galvalume coil to the US have increased by eight percent, which places current pricing at $864/mt FOB. Ex-Brazil HDG G40 grade coil is currently being heard at $754/mt, FOB, sources note.
Ex-India export offer prices continue to trend in the approximate range of $640-$650/mt FOB, but sources within that country say they are having a hard time garnering interest from US buyers due to price trends within the US domestic flat rolled steel market.
Indian exporters are still offering volume discounts as a means of attracting orders, sources note, but many US-based traders “aren’t biting.”