US import HDG prices continue to see uptick

This week Indian offers on hot dipped galvanized (HDG) continue to inch upward as buyers remain interested, thanks to attractive prices and swift lead times. After seeing a jump earlier in the month, Indian HDG offers on 0.019" x 48" G90 have increased again this week by about $1.00 cwt. ($22/mt or $20/nt), settling in the general range of about $43.00-$44.00 cwt. ($948-$970 /mt or $860-$880/nt) DDP loaded truck in US Gulf ports. 

 

Overall, HDG import booking has seen an uptick this quarter as US domestic buyers and mills hash-out contract negotiations. This year domestic mills are driving a hard bargain, and sources say they estimate that import booking is up by about  20 to 30 percent more than what’s typical for this time of year. A good chunk of that business is going to India, which just booked a bundle of 2014 orders, slated to start arriving in February and March. 

 

Sources say that India continues to be the top pick for many buyers, and data from the US  Department of Commerce confirms the trend. Over the past year Indian HDG shipments have averaged about 25,246 mt per month, while China has trailed at about 18,362 mt per month. Taiwan follows with an average of about 10,367 mt per month, and Mexico is not far behind with about 9,195 mt per month.