US import HDG prices stable, Mexico offers remain uncertain

Tuesday, 04 June 2019 22:43:46 (GMT+3)   |   San Diego

US import HDG coil prices from Egypt, Vietnam, and the UAE are mostly steady week-over-week, although sources close to SteelOrbis have indicated that deals below the current range may be available based on tonnage. Although some had projected that US import HDG prices would have endured an official downward revision after the Memorial Day holiday, no such revision has taken place.

Offer prices from Mexico, however, are unknown for both import HDG and Galvalume coil. Sources close to SteelOrbis have said that customers are reluctant to book tons from Mexico, despite the removal of the Section 232 tariff.

Last week, Donald Trump announced he would begin to implement an across-the-board tariff on all Mexican goods shipped to the US starting on June 10, unless Mexico is able curb illegal immigration at the US Southern border. The tariff is set to start at 5 percent and will increase by 5 percent each month thereafter, to a peak of 25 percent starting in October.

The question as to whether Trump’s new tariff threat will derail ratification of the US-Mexico-Canada trade deal has yet to be answered.

0.012”x40.875” G30 HDG coil $/cwt $/mt $/nt Weekly change Delivery 
Egypt $49-$50 $1,080-$1,102 $980-$1,000 neutral DDP loaded truck in US Gulf ports 
Vietnam, UAE $50+ $1,102+ $1,000+ neutral DDP loaded truck in US Gulf ports 

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