Indian hot dip galvanized (HDG) coil export offers have remained stable during the past week in the range of $630-650/mt FOB, but transaction volumes have fallen as US buyers have been deferring transactions, traders said on Thursday, July 21.
"We learn that, with US flat product prices largely remaining unchanged, US steel distributors are awaiting short-term pricing directions before concluding import transactions," a Mumbai-based trader said.
"Indian HDG exporters who had adjusted their offers earlier in the month also prefer to wait and see, as lower offers had failed to spark any buying interest among US importers," the trader said.
Market sources said that in the Gulf Co-operation Council (GCC) markets Indian HDG export offers have remained stable in the past week at $720-730/mt CFR following previous increases, but transaction volumes have slowed down significantly during the past week.