US import HDG offer prices from Brazilian steelmakers have increased since our last report a week ago; this trend comes on the heels of double-digit increases in Brazilian hot rolled coil (HRC) prices. Brazilian steelmaker Usiminas increased their domestic HRC prices by 6.5 percent in late March.
An additional 4 percent increase took hold on Apr. 4.
Ex-Brazilian 0.019’ x41.5625’ Gr80/AZ55 Galvalume coil offer prices have increased by $0.50-$0.75 cwt. ($11-$17 or $10-$15/nt) in the past seven days, bringing the current average price to $37.00 cwt. ($816/mt or $740/nt), DDP loaded truck in
US Gulf coast ports.
US import hot dipped
Galvanized futures offers from Vietnamese steelmakers for 0.019”x48” G90 HDG coil are now being reported at approximately $29.50-$30.50 cwt. ($650-$672/mt or $590-$610/nt), DDP loaded truck in
US Gulf coast ports, which reflects an approximate $1.50 cwt. ($33/mt or $30/nt) increase from futures offers seen in early-March.
Trader sources, however, have been quick to note that that futures prices from Vietnamese mills are still trending approximately $5.00-$6.00 cwt. ($110-$132/mt or $100-$120/nt) below
US domestic offer prices.
In terms of Indian HDG producers, sources close to SteelOrbis have indicated that
US buyers continue to be wary due to the still-pending final determinations announcement in the
US import HDG trade case.