US import hot dipped
galvanized sheet and strip tonnages are down by about 30 percent year-on-year, but the most recent data from the
US Department of Commerce, Enforcement and Compliance indicates that
US import HDG tonnages from Indian steelmakers seems to have surged in the month of July.
In June of this year, Indian steelmakers shipped 1,595 mt (census data) of HDG to the
US; license data for July of this year indicates that 16,183 mt of HDG coil was shipped to
US ports.
At current, however, sources close to SteelOrbis are indicating that interest in booking ex-India HDG tonnages is still trending light due to the current, slow downward drift in
US spot market prices. Current ex-India HDG coil prices are still trending in the range of $620-$635/mt, FOB, reflecting no change since our last report a week ago.
In terms of ex-Brazil offer prices for Galvalume coil, sources close to SteelOrbis have reported that the most recent sales were concluded at $860/mt FOB. One mill source in that country has indicated that sea freight from a port in Southeast Brazil to the
US East coast is currently trending at $40/mt.
Lastly, a
US trader sources continue to report that 0.012”x40.875” G30 coil is still available to customers at a
US sales price of $43-$44 cwt. ($948-$970/mt or $860-$880/nt) DDP loaded truck in
US Gulf ports; this price point is still more than $5.00 cwt. ($110/mt or $100/nt) below current ex-Midwest mill pricing it is continuing to spur interest from
US buyers.
Data from the
US Department of Commerce, Enforcement and Compliance shows that in the month of June, Turkish steelmakers shipped 8,782 mt (census data) of HDG coil to the
US, which is a substantial jump from June 2015, when Turkish steelmakers shipped 1,155 mt of HDG coil to
US ports.