Offshore mills struggle to raise HDG offer prices to the US

Over the last couple weeks, a number of the US' typical import sources for coated flat steel products have increased their offer prices for the US, but those increases have yet to be accepted by buyers in the US. After Indian CFR offer prices for HDG 0.012"x40.875" G30 and HDG 0.019" x 48" G90 increased two weeks ago, traders told SteelOrbis that the increases had not been translated into higher resale prices in the US and import activity as a whole remains extremely minimal. Meanwhile, although there was chatter surrounding an increase in Chinese 0.012"x40.875" G30, as Chinese mills raised cold rolled coil (CRC) CFR offers just two weeks ago, sources have indicated that certain second-tier Chinese HDG mills have actually cut their CFR offer prices to the US in the last week, and the previous $40.50-$41.50 cwt. ($893-$915/mt or $810-$830/nt) DDP loaded truck in US Gulf ports prices is still valid, with potential to get slightly under for the right order.

Meanwhile, Taiwanese mills have once again offered Galvalume 0.019x41.5625 Gr80/AZ55 to the US after being absent from the market for the past month. Offer prices from Taiwan are up about $0.50 cwt. ($11/mt or $10/nt) from previous offers a month ago and are now between $42.50-$43.50 cwt. ($937-$959/mt or $850-$870/nt) DDP loaded truck in US Gulf ports, although Taiwanese mills are aiming to get prices even higher. However, Taiwan has competition from Chinese and Mexican offers. While Chinese price are higher, Mexico is offering Galvalume to the US at $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) DDP loaded truck delivered into Houston. Nonetheless, even activity south of the border is slack, with US buyers shying away from imports altogether at the moment.

**DDP loaded truck delivered into Houston