Offer prices within the US import HDG and Galvalume coil markets are largely stable since our last report a week ago, although some question whether the still-standing Section 232 tariffs may start to wind down under the Biden administration.
In September, several news outlets speculated that once Biden takes office, the tariffs may be short lived. On the other hand, SteelOrbis reported yesterday that many within the steel industry believe that while Section 232 could be on the chopping block, it’s unlikely to happen immediately.
“I’m not sure that we’ll see Sec 232 go away quickly,” a source said. “As disruptive as it was when it started, it could be equally disruptive to ‘rip off the Band-Aid’ too quickly. Perhaps there will be a tiered sunsetting of the 232 tariffs. However, the larger issue I believe is that given the continued urgency of COVID-19, the Section 232 tariffs simply don’t elevate to priority status for 2021. The optics – and potentially real-world impacts on US steel production – of removing the tariffs during the weakened COVID economy, would not be good politically speaking.”
For now, the market holds neutral. Current prices are listed in the chart below:
| 0.012” G30 HDG coil | $/cwt | $/mt | $/nt | Weekly change | Delivery |
| South Africa / UAE/ Vietnam / Korea | $48 | $1,058 | $960 | mostly neutral, with some higher quotes | DDP loaded truck in US Gulf ports |
| Galvalume coil 0.019x41.5625 Gr80/AZ55 | |||||
| Vietnam / Korea | $49 | $1,080 | $980 | mostly neutral, with some higher quotes | DDP loaded truck in US Gulf ports |