US import hot dipped galvanized buyers still being courted by Indian mills

Tuesday, 02 February 2016 20:59:58 (GMT+3)   |   San Diego
       

US import tonnages for hot dipped galvanized sheets and strip fell may be down substantially year-on-year, but that hasn’t stopped offshore mills from trying to court US buyers.

Sources close to SteelOrbis this week confirmed that both Indian and South African mills are offering 0.012”x40.875” G30 at $640-$650/mt CFR FO in US Gulf coast ports; interest in booking futures has ticked up slightly, sources say, as US domestic mills continue to seek price firming within the US domestic flat rolled steel markets.

Others say they are more skeptical of the recent US HDG price increase, citing uncertainty that current market prices will remain stable. It should also be noted that the US HDG trade case is still pending and although Indian HDG producers saw relatively low margins during the preliminary determinations, there is still concern that mills in this country could receive much higher margins once the final determinations are announced.

Thus, the threat of a potential increased duty has some US buyers trending reluctant when it comes to booking import HDG tons from Indian steel producers.


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