Import HDG offer prices to the US mark another significant drop

After holding relatively stable a week ago, import hot dipped galvanized (HDG) and Galvalume offer prices to the US have slid again. Despite the recent uptrend in US domestic coated flat steel spot prices in the last couple weeks, demand for imports has not shown much improvement. US buyers are still not willing to significantly stock inventories. However, with import prices now falling to levels well below US domestic spots, a number of typical import buyers have taken advantage of declining prices. For HDG 0.019" x 48" G90 out of China, traders have been working in tighter margins, and new prices are down $1.00 cwt. ($22/mt or $20/nt)  from last week to $39.50-$40.50 cwt. ($871-$915/mt or $790-$830/nt) DDP loaded truck in US Gulf ports. While Indian offers are also down $1.00 cwt. since last week, they remain $2.00 cwt. ($44/mt or $40/nt) above Chinese prices.

However, India continues to be US buyers' first choice for import HDG 0.012"x40.875" G30, even though Chinese prices are slightly lower. Both Chinese and Indian offer prices came down by another $1.00 cwt. in the past week. Chinese mills are being especially aggressive on Galvalume offers to the US, with new prices in the range of $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) DDP loaded truck in US Gulf ports. Both Taiwanese and Mexican prices have remained unchanged since last week but Mexican mills have been heard making deals under the current level of $41.50-$42.50 ($915-$937/mt or $830-$850/nt) DDP loaded truck delivered into Houston for larger customers.

*DDP loaded truck in US Gulf ports

*DDP loaded truck delivered into Houston