Import offers of both hot dipped galvanized (HDG) and Galvalume steel products to the US have registered another notable week-on-week decline, the third drop of at least $1.00 cwt. ($22/mt or $20/nt) on many import offer prices to the US in as many weeks. Most of the declines, particularly on imports from China and India, are a result of rapidly softening domestic prices in both countries, which in turn have resulted in lower export prices. Particularly in China, with iron ore prices still falling and buyer confidence low, domestic demand is extremely lethargic, and flat rolled prices are expected to continue to move lower for at least another week.
Nonetheless, with US domestic HDG and Galvalume spot prices still on a downward trend, there is still little interest in futures offers. Mexican HDG 0.012"x40.875" G30 offers, on the other hand, are garnering some US-buyer attention in the range of $46.00-$47.00 cwt. ($1,014-$1,036/mt or $920-$940/nt) DDP loaded truck in US Gulf ports, remaining about $2.00 cwt. ($44/mt or $40/nt) under US spot prices.
| Import HDG offers to the US | Cwt. | Metric ton (mt) | Net ton (nt) | Change from last week |
| 0.012"x40.875" G30 | ||||
| India* | $47-$48 | $1,036-$1,058 | $940-$960 | ↓$1.00 cwt. |
| China* | $46.50-$47.50 | $1,025-$1,047 | $930-$950 | ↓$0.50 cwt. |
| Mexico** | $46-$47 | $1,014-$1,036 | $920-$940 | ↓$2.00 cwt. on high end |
| 0.019" x 48" G90 | ||||
| China* | $47.50-$48.50 | $1,047-$1,069 | $950-$970 | ↓$1.00 cwt. |
| India* | $48-$50 | $1,058-$1,102 | $960-$1,000 | ↓$1.00 cwt. |
| Taiwan* | $50-$51 | $1,102-$1,124 | $1,000-$1,020 | newly offered |
| Import Galvalume offers to the US | ||||
| 0.019x41.5625 Gr80/AZ55 | ||||
| Taiwan* | $49.50-$50.50 | $1,091-$1,113 | $990-$1,010 | ↓$1.00 cwt. |
| Mexico** | $48-$49 | $1,058-$1,080 | $960-$980 | ↓$1.00 cwt. on low end |
| China* | $48-$49 | $1,058-$1,080 | $960-$980 | ↓$1.00 cwt. |
**DP loaded truck delivered into Houston