Sources close to SteelOrbis have confirmed that the availability of
US import hot dipped
galvanized (HDG) and Galvalume coil tonnages from Brazil will be restricted due to two factors: reduced production and the preference of Brazilian steelmakers to serve their local market. Mills in that country have further indicated a desire to raise HDG prices in both the domestic and export market.
US-based sources have said that at least one Brazilian steelmaker has been canceling previously booked orders. “Many customers are wondering if their tons will actually arrive,” he said.
The most recent ex-India offers for HDG coil continue to be heard in the approximate range of $775-$780/mt CFR, it’s expected that interest and order activity will remain weak until the
US International Trade Commission (
US ITC) announces its final ruling in the
US import HDG trade case.
“Tonnages from Indian mills are available, but in limited supply,” another source said. “Not to mention that a lot of people are still afraid to book anything until the final determinations in the trade case come out.”
In terms of
US import tonnage available from other countries, trader sources have said “that seems to be coming back. Before you’d get offers that had one day or half-day availability,” he said. “Now there’s actually time to bid back.”
One importer confirmed he recently booked an order for Vietnamese .012 G30 coil at $775/mt CFR, adding that he believed that offer prices for .019 G90 were approximately $850/mt CFR.