US import HDG prices from Brazil still trending flexible

ArcelorMittal USA, Nucor Sheet Mill Group, California Steel Industries (CSI) and AK Steel last week announced they would be raising prices for all non-contract hot dipped galvanized (HDG) spot market pricing by $1.50 cwt. ($33/mt or $30/nt) effective for all new orders.   US inventory levels are finally “right-sized,” sources note, adding that mills’ lead times are currently spanning out.  Further, US domestic scrap prices have also experienced an uptick this month, which bodes well for mills’ recent price increase attempt.

“It’s only a matter of time before US prices start to rise, which will likely help increase interest in offshore bookings,” one Texas-based source said. 

Current futures offer prices from Brazilian steelmakers for 0.019’ x41.5625’ Gr80/AZ55 Galvalume coil are trending at approximately $35.00 cwt. ($772/mt or $700/nt), DDP loaded truck US Gulf coast ports, although sources close to SteelOrbis have confirmed that deals up to $0.50 cwt. ($11/mt or $10/nt) below this price may be available based on tonnage.

Current average futures offer prices from Brazilian steelmakers for 0.12”x40.875” G30 coil are being offered in the approximate range of $32-$33 cwt. ($705-$728/mt or $620-$660/nt), DDP loaded truck in US Gulf coast ports, although other sources close to SteelOrbis say that deals up to $1.50 cwt. ($33/mt or $30/nt) may be available based on tonnage.