Overseas markets have seen a recent drop in raw material prices, which has had a ripple effect on steel prices and flooded the market with an excess of supply, resulting in some lower HDG import offers to the US this week. Chinese and Indian hot dipped galvanized (HDG) import offers for 0.019" x 48" G90 fell by $1.50 cwt. ($33/mt or $30/nt) since last week, down to $41.00-$42.00 cwt. ($903-$925/mt or $820-$840/nt) DDP loaded truck in US Gulf ports. There was also a decrease in Chinese and Indian offers for HDG 0.012”x40.875” G30 coil, which dropped by $1.00 cwt. ($22/mt or $20/nt)—and that price range is also now down to $41.00-$42.00 cwt. DDP loaded truck in US Gulf ports.
Offer prices from other import sources are holding steady and have not shown any change this week. Sources tell SteelOrbis that booking activity had been stronger earlier in the month, but that even with these lower import offers, it has begun to lose steam as the US domestic market is entering its slowest demand quarter. That trend will likely continue through the season, but activity is expected to pick up again in the first quarter. Sources also tell SteelOrbis that the time period for 2013 deliveries has just ended, so import purchases from now on will most likely arrive at the start of next year.
| Import HDG offers to the US | Cwt. | Metric ton (mt) | Net ton (nt) | Change from last week |
| 0.012”x40.875” G30 | ||||
| China* | $41-$42 | $903-$925 | $820-$840 | ↓$1 ctw |
| India* | $41-$42 | $903-$925 | $820-$840 | ↓$1 ctw |
| 0.019" x 48" G90 | ||||
| China* | $41-$42 | $903-$925 | $820-$840 | ↓ $1.50 cwt |
| India* | $41-$42 | $903-$925 | $820-$840 | ↓ $1.50 cwt |
| Import Galvalume offers to the US | ||||
| 0.019x41.5625 Gr80/AZ55 | ||||
| China* | $43.50-$44.50 | $959-$981 | $870-$890 | neutral |
| India* | $43-$44 | $948-$970 | $860-$880 | neutral |
| Mexico** | $44-$46 | $970-$1,014 | $880-$920 | neutral |
| Taiwan* | $43.50-$44.50 | $959-$981 | $870-$890 | neutral |
| *DDP loaded truck in US Gulf ports | ||||
| *DDP loaded truck delivered into Houston | ||||