US import HDG price trend varied by product

While import offer prices for hot dipped galvanized (HDG) coil are anticipated to increase, some Galvalume coil offers have actually fallen back. Indian offer prices for HDG 0.012"x40.875" G30 and HDG 0.019" x 48" G90 to the US have remained unchanged again in the last week, although Indian mills continue to actively inform traders of prices "imminently going up." Chinese mills, meanwhile, continue to push to slightly higher prices after raising CFR offer prices a couple weeks ago. Demand for futures, however, isn't especially lively, and the majority of import activity continues to take place on the US West Coast.

In the meantime, import offers for Galvalume coil have actually softened a bit in the last week. In the last couple months, import offer prices for Galvalume coil to the US have increased much faster than import offers for HDG coil, and demand supported the higher prices. But with US buyers growing increasingly uncertain about the state US domestic spot prices once futures arrives in late Q4, import bookings have slowed. Taiwanese mills, which raised prices only a couple weeks ago, have since scaled back the increase by $1.00 cwt. ($22/mt or $20/nt). Mexican mills have kept prices stable for now, but are "getting nervous" and could be open to some discounting sooner rather than later.

*DDP loaded truck in US Gulf ports

**DDP loaded truck delivered into Houston