After declining the last couple weeks, Chinese and Indian hot dipped galvanized (HDG) offer prices to the US are stable but the downtrend could resume again soon. In the last couple weeks, Chinese and Indian CFR offer prices to the US have fallen anywhere from $10-$30/mt, almost instantaneously taking sales prices in the US down as well. Chinese HDG 0.012"x40.875" G30 prices are $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) DDP loaded truck in US Gulf ports and $0.50 cwt. ($11/mt or $10/nt) higher for HDG 0.019" x 48" G90.
Traders indicated that Chinese mills are waiting to see if recent decreases in offer prices to the US will be enough to attract order activity before dropping prices again. But while the new offer prices are now below US domestic spot prices for the same products, the gap between the prices is still too narrow for many to commit to futures. But because US domestic spots are not expected to drop significantly in the near future, if import offer prices drop further in the next couple weeks, it could be enough to boost import interest.
| Cwt. | Metric ton (mt) | Net ton (nt) | Change from last week | |
| Import HDG offers to the US | ||||
| 0.012"x40.875" G30 | ||||
| China* | $42-$43 | $926-$948 | $840-$860 | neutral |
| India* | $43-$44 | $948-$970 | $860-$880 | neutral |
| 0.019" x 48" G90 | ||||
| China* | $42.50-$43.50 | $937-$959 | $850-$870 | neutral |
| India* | $43.50-$44.50 | $970-$992 | $880-$900 | neutral |
| Import Galvalume offers to the US | ||||
| 0.019x41.5625 Gr80/AZ55 | ||||
| Mexico** | $44.50-$45.50 | $981-$1,003 | $890-$910 | neutral |
*DDP loaded truck delivered into Houston