A number of import offer prices to the US were anticipated to move in tandem with US domestic spot prices, but have not yet done so. Futures offer prices from China and India to the US for hot dipped galvanized (HDG) and Galvalume coil were anticipated to follow suit, but have been slow to react. Demand in the Far East is weak, which traders say is one reason why the offshore prices have remained stagnant in the last couple weeks, despite US domestic spots increasing by about $2.00-$3.00 cwt. ($44-$66/mt or $40-$60/nt) throughout June and early July.
Even Mexican offer prices to the US for HDG 0.012"x40.875" G30 and Galvalume 0.019x41.5625 Gr80/AZ55 are unchanged in the last week, resulting in the HDG coil offer prices remaining well below US domestic spot prices. But even though import activity has picked up in the last month or so, following three US domestic mill-announced price increases, it is still not particularly strong; another likely reason why the offshore mills have not rushed to increase prices. The only movement in offshore pricing in the last week comes from Taiwan, which has raised its Galvalume 0.019x41.5625 Gr80/AZ55 prices $1.00 cwt. ($22/mt or $20/nt) to the range of $44.50-$45.50 cwt. ($981-$1,003/mt or $890-$910/nt) DDP loaded truck in US Gulf ports.
| Cwt. | Metric ton (mt) | Net ton (nt) | Change from last week |
|
| Import HDG offers to the US |
||||
| 0.012"x40.875" G30 |
||||
| China* | $40-$41 | $882-$904 | $800-$820 | neutral |
| India* | $41-$41.50 | $904-$915 | $820-$830 | neutral |
| Mexico** | $41-$42 | $904-$926 | $820-$840 | neutral |
| 0.019" x 48" G90 |
||||
| China* | $39.50-$40.50 | $871-$915 | $790-$830 | neutral |
| India* | $41.50-$42.50 | $915-$937 | $830-$850 | neutral |
| Import Galvalume offers to the US |
||||
| 0.019x41.5625 Gr80/AZ55 |
||||
| Mexico** | $44-$45 | $970-$992 | $880-$900 | neutral |
| Taiwan* | $44.50-$45.50 | $981-$1,003 | $890-$910 | ↑ $1.00 cwt. |
*DDP loaded truck in US Gulf ports
**DDP loaded truck delivered into Houston