US-based buyers continue to show reluctance in booking hot dipped
galvanized (HDG) coil from India, despite best efforts by Indian steelmakers to push volume.
At current, ex-India pricing for HDG coil to the
US is still trending in the approximate range of $630-650/mt FOB, but transaction volumes are falling. Many attribute lagging interest to uncertain conditions in the
US domestic flat rolled steel market; although
US domestic HDG prices are unchanged since late-May some believe that current spot market pricing could soon correct now that
US scrap prices are trending soft.
Ex-Brazil pricing is also steady in the past week. Futures pricing for HDG G40 coil are still being heard at $756/mt, FOB.
The most recently heard
US import hot dipped
galvanized (HDG) coil futures offers for 0.012”x40.875” G30 coil from Turkish, Indian and South African steelmakers are also lateral since our last report a week ago and are still being heard at an approximate
US sales price range of $42-$44 cwt. ($925-$970/mt or $840-$880/nt), DDP loaded truck in
US Gulf coast ports.