Section 232 investigations are few and far between, and despite the US being successful in obtaining relief in only a very small number of the past 14 investigations, that hasn’t stopped the Trump administration from trying.
The current investigation against steel imports was initiated on April 20; at that time the President urged the US DOC report back within 50 days.
The expedited review period, trader sources have said, has led many trading companies to pull their offers of US import hot dipped galvanized (HDG) and Galvalume coil into the US domestic market. Those who continue to offer, other source note, “are padding all their contracts with cancellation clauses.”
Although current offers are “mostly silent,” the most recent heard offer prices for imported 0.012”x40.875” G30 hot dipped galvanized (HDG) coil and 0.019x41.5625 Gr80/AZ55 Galvalume coil in the US domestic market, and imported 0.012”x40.875” G30 hot dipped galvanized (HDG) coil in the US domestic market are listed below.
| 0.012”x40.875” G30 HDG coil | cwt. | metric ton | net ton | ||
| UAE | $44-$46 | $970-$1014 | $880-$920 | DDP loaded truck in US Gulf coast ports | neutral |
| Turkey / India | $44-$46 | $970-$1014 | $880-$920 | DDP loaded truck in US Gulf coast ports | neutral |
| 0.019x41.5625 Gr80/AZ55 Galvalume | |||||
| Brazil | $46-$48 | $1014-$1058 | $920-$960 | DDP loaded truck in US Gulf coast ports | neutral |
| Vietnam | $47-$48 | $1036-$1058 | $940-$960 | DDP loaded truck in US Gulf coast ports | neutral |