Import HDG offers drawing muted response from US customers

There continues to be a flood of import hot dipped galvanized (HDG) and Galvalume offers from numerous mills, but those in the US willing to take the risk of booking offshore remains minimal. Traders told SteelOrbis that even though "the usual" orders are being placed and there are plenty of inquiries, most buyers aren't ready to commit to offshore tonnage, especially as some believe import prices still have room to fall. Chinese prices have somewhat stabilized in the last couple weeks as some of the cheapest offers that were available have been pulled off the table amid iron ore price increases last week. Some Chinese mills are even trying to increase their prices but given still weak demand in the Far East, new orders can still be placed at previously reported prices.

South of the border, Mexican mills continue to make aggressive deals as necessary to collect orders and current offers for HDG 0.012"x40.875" G30 are unchanged since last week at $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) DDP loaded truck in US Gulf ports, but the majority of sales are being made toward the lower end of the range. Meanwhile, Taiwanese mills are said to be willing to offer some discounts on Galvalume 0.019x41.5625 Gr80/AZ55 for serious buyers or for larger tonnages but are nonetheless attempting to keep offer prices stable.

*DDP loaded truck in US Gulf ports

**DDP loaded truck delivered into Houston