US import HDG prices and activity stagnant

Major offshore hot dipped galvanized (HDG) and Galvalume suppliers have rolled over offer prices again this month, keeping prices little changed since beginning of this year. Import bookings in the US have been stagnant for weeks now, and with the exception of a few regular orders for niche items, many buyers are shying away from futures in light of a downward trending US domestic market. And while Chinese and Indian mills have been somewhat flexible with offers--lowering prices by up to $0.50 cwt. ($11/mt or $10/nt) to collect a few orders, trader sources indicate that the import sources may become more willing to drop prices by next month if activity remains as quiet as it has been.

Meanwhile, there has been no slowdown in arriving imports. US Steel Import Monitoring and Analysis (SIMA) data show 170,501 mt (license data) of sheets and strip--hot dipped arrived in April, significantly more than the 124,854 mt (preliminary census data) imported in March and the highest level in over two years. As mentioned in previous reports, a substantial amount has come in unsold, and US buyers tell SteelOrbis that for the time being, there's enough import HDG and Galvalume "floating around" that there's no need to rush placing an import order just yet.

**DDP loaded truck delivered into Houston