US import HDG activity still high amidst Section 232 uncertainty

Tuesday, 23 January 2018 00:08:37 (GMT+3)   |   San Diego
       

The official findings with the US Department of Commerce’s Section 232 investigation are still not known, but some news outlets are reporting that DOC Secretary Wilbur Ross recommended a wide range of options to deal with steel dumping in the US, which include but are not limited to targeting “bad actor” steel mills in countries that are active in shipping steel to the US and the implementation of higher tariffs.

Reuters, however is indicating that the prospect of broad tariffs against steel imports has been the subject of spirited debate, as using “national security concerns” to implement such tariffs could spur an international trade war, in addition to possibly damaging the growing US economy.

“The biggest problem we have now is that we don’t know what we don’t know,” a Texas-based source said. “There is so much speculation about what may or may not happen it’s hard to sort through all the noise.”

For now, however, activity within the US import hot dipped galvanized (HDG) and Galvalume coil markets remains robust on the heels of higher domestic pricing and widespread speculation that another price increase is forthcoming.

The most recently heard pricing for US import HDG is listed in the chart below.

0.012”x40.875” G30 HDG coil cwt.  metric ton net ton   change since last week
           
UAE / Turkey / Vietnam $45-$47 $992-$1036 $900-$940 DDP loaded truck in US Gulf coast ports  neutral
South Africa $47-$48 $1036-$1058 $940-$960 DDP loaded truck in US Gulf coast ports  neutral
           
0.019x41.5625 Gr80/AZ55 Galvalume          
           
Brazil / Vietnam  $46-$48 $1014-$1058 $920-$960 DDP loaded truck in US Gulf coast ports  neutral
Taiwan $50-$51 $1102-$1124 $1000-$1020 DDP loaded truck in US Gulf coast ports  neutral

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