While market transactions, pricing inquiries, and orders have remained on par with levels reported during the last week in May, excess product has continued to saturate the domestic marketplace, knocking supply and demand models slightly out of whack. And as with transactions for hot rolled coil (HRC) and cold rolled coil (CRC), unless buyers absolutely need to purchase product, they're holding off. "I believe customers are going to drive their inventories down to zero," commented on distributor.
In terms of pricing, the range for US domestic HDG base spot pricing has remained neutral since our last report a week ago, with offers continuing to be seen in the approximate range of $37.00 cwt. to $38.00 cwt. ($816/mt to $838/mt or $740/nt to $760/nt), ex-Midwest mills.
Transaction pricing for 0.012" x 40.875" G30 (0.30 mm x 1.04 m), though, softened by approximately $1.00 cwt. ($22/mt or $20/nt) since our last report, and offers are now being seen in the approximate range of $49.00 cwt. to $51.00 cwt. ($1,058/mt to $1,102/mt or $960/nt to $1,000/nt), ex-Midwest mills.
Offerings for 0.019" x 48" G90 (0.48 mm x 1.219 m), however, have remained neutral. Spot offers for this product continue to be reported in the approximate range of $46.50 cwt. to $48.50 cwt. ($1,025/mt to $1,069/mt or $930/nt to $970/nt), ex-Midwest mills.
Shifting focus to Galvalume coil, domestic transaction prices have softened by an additional $1.00 cwt. ($22/mt or $20/nt) since our last report and can now be found in the approximate range of $38.00 cwt. to $40.00 cwt. ($838/mt to $882/mt or $760/nt to $800/nt), ex-Midwest mills.
The range for offers of Galvalume 0.019" x 41.5625" Gr80/AZ55, have remained neutral, and offers for this product are still being reported in the approximate range of $50.00 cwt. to $51.00 cwt. ($1,102/mt to $1,124/mt or $1,000/nt to $1,040/nt), ex-Midwest mills. Deals below this range, however, are indicated as being negotiable.
Looking offshore, import offers out of India and China, for HDG 0.012" x 40.875" G30 (0.30 mm x 1.04 m), at least, have started to become more aggressive.
Import offers for HDG 0.012" x 40.875" G30 (0.30 mm x 1.04 m), out of India and China have also softened approximately $1.00 cwt. ($22/mt or $20/nt) since last week, with Indian offers now being reported at approximately $49.00 cwt. to $50.00 cwt. ($1,080/mt to $1,102/mt or $980/nt to $1,000/nt), FOB loaded truck US Gulf ports, and Chinese offers now at around $48.00 cwt. to $49.00 cwt. ($1,058/mt to $1,080/mt or $960/nt to $980/nt), FOB loaded truck US Gulf ports. While Indian prices are indicating a renewed interest in the US market, Chinese pricing continues to be slightly more attractive.
Import offers for HDG 0.019" x 48" G90 (0.48 mm x 1.219 m), though, have trended neutral since our last report a week ago. Indian offers for this product are still being reported in the approximate range of $49.00 cwt. to $51.00 cwt. ($1,080/mt to $1,124/mt or $980/nt to $1,020/nt), FOB loaded truck US Gulf ports. Chinese offers for this product have also remained in the same range previously reported, and can still be seen in the approximate range of $46.00 cwt. to $48.00 cwt. ($1,014/mt to $1,058/mt or $920/nt to $960/nt), FOB loaded truck US Gulf ports. US domestic interest in this particular product, though, remains weak.
Looking at Galvalume 0.019" x 41.4625" Gr80/AZ55p, import offers out of India have become more aggressive, and have fallen in line with Chinese offerings for this same product. Offers for Galvalume 0.019" x 41.4625" Gr80/AZ55p out of both countries are now being offered at approximately $50.00 cwt. to $52.00 cwt. ($1,102/mt to $1,146/mt or $1,000/nt to $1,040/nt), FOB loaded truck US Gulf ports. China, however, may be more open to offer deals for this particular product. Taiwan, while still offering, remains priced high, at $52.00 cwt. to $54.00 cwt. ($1,146/mt to $1,191/mt or $1,040/nt to $1,080/nt), FOB loaded truck US Gulf ports. With the revised pricing by India and China, however, interest in Taiwanese product has waned.