The offers to
US-based traders for imported 0.019”x48” G90 hot dipped
galvanized (HDG) coil, and imported 0.012”x40.875” G30 HDG coil continue to trend quiet, as many offshore producers are continuing to evaluate their input costs before they renew offers for these products to
US-based traders.
Last week SteelOrbis reported a global expectation of an increase in raw material costs.
“Most [offshore mills] are still trying to get a better sense of what their production costs will be, before they renew their offers to the
US for a product that probably won’t ship until April or May of next year,” one trader source said. “All we know is that once we start to get new offers, the prices are guaranteed to be higher than they had been.”
Indian steelmakers, however, are currently offering HDG coil to
US-based traders at $635-$645/mt FOB, one source said. The source further noted that interest in booking import HDG coil from India has been greatly tapered due to the
US import HDG trade case, adding that many
US-based buyers continue to be wary of booking imports due to the expectation of higher tariffs on imported steel once President-elect Donald Trump takes office.