While import offer prices to the US are on the rise from some countries, others are maintaining a strategy of stability. Chinese mills have raised their import offer prices to the US across the board, but whether those increases stick is up for debate. Chinese hot dipped galvanized (HDG) 0.012"x40.875" G30 prices are up $1.00 cwt. ($22/mt or $20/nt) to $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) DDP loaded truck in US Gulf ports, while Chinese HDG 0.019" x 48" G90 prices are up $2.00 cwt. ($44/mt or $40/nt). However, with a multitude of mills in China offering HDG coil, trader sources note that there are offers above and below the reported price ranges. However, the newly higher prices are unlikely to sustain if Chinese mills don't receive a sufficient number of orders.
India, meanwhile, has not moved its prices in reaction to the months' long uptrend in US domestic spot prices or rising prices from China. Indian mills have been booking well at current prices, and are therefore keeping prices at attractive levels. As for Galvalume coil, China and Taiwan have closed previous offers, and new prices are anticipated to be higher. Overall, there is no rush to place futures orders right now, even though offer prices from various regions are significantly below US domestic spot prices. Delivery dates are now in November, so year-end concerns are preventing most from placing large volume orders offshore.
Cwt. | Metric ton (mt) | Net ton (nt) | Change from last week | |
Import HDG offers to the US | ||||
0.012"x40.875" G30 | ||||
China* | $41-$42 | $904-$926 | $820-$840 | ↑ $1.00 cwt. |
India* | $41-$41.50 | $904-$915 | $820-$830 | neutral |
0.019" x 48" G90 | ||||
China* | $42-$43 | $926-$948 | $840-$860 | ↑$2.00 cwt. |
India* | $41.50-$42.50 | $915-$937 | $830-$850 | neutral |
Import Galvalume offers to the US | ||||
0.019x41.5625 Gr80/AZ55 | ||||
Mexico** | $44-$46 | $970-$1,014 | $880-$920 | neutral |
India* | $43-$44 | $948-$970 | $860-$880 | neutral |
*DDP loaded truck in US Gulf ports
**DDP loaded truck delivered into Houston