US import HDG prices still uncertain

Although the official spot market price range for US import hot dipped galvanized (HDG) and Galvalume coil continue to remain steady since our last report a week ago, sources close to SteelOrbis have reported that Indian mills have shown an increased willingness to negotiate, while Brazilian mills are trying to push prices higher.

Brazilian sellers say the push is due to upticks in price within the Brazilian domestic market and as such, they are looking to book Galvalume export in a range that’s as much as $1.00-$2.00 cwt. ($22-$44/mt or $20-$40/nt) higher than the most recently concluded transactions.

Indian sellers, however, are being told that US domestic pricing for 0.012”x40.875” G30 HDG coil is still more attractive than offshore pricing, which has waned US buyers’ interest in booking imports. This, according to sources, has led Indian producers to show increased flexibility when it comes to price, but that flexibility has not yet spurred significant buying activity out of the US.