US import HDG sources search for bottom

As offshore mills lower their prices to the US, traders have noted increased discussion on futures, but actual bookings remain tepid. Mills in China, India and Taiwan offering hot dipped galvanized (HDG) and Galvalume coil to the US continue to drop prices on an almost weekly basis as they search for an attractive enough price level to reengage typical US import buyers. Chinese and Indian 0.012"x40.875" G30 prices have not officially moved since last week but can now be found at the bottom of the below ranges. Meanwhile, Chinese 0.019" x 48" G90 offer prices have fallen another $0.50 cwt. ($11/mt or $10/nt) to $41.00-$42.00 cwt. ($904-$926/mt or $820-$840/nt) DDP loaded truck in US Gulf ports.

Galvalume coil offer prices have registered the most significant declines in the last couple weeks as previous prices had been well above US domestic spot prices. Taiwanese offer prices have declined by another $1.00 cwt. ($22/mt or $20/nt) to $43.00-$44.00 cwt. ($948-$970/mt or $860-$880/nt) DDP loaded truck delivered into US Gulf ports. Korean prices are also available at $0.50 cwt. lower but the majority of Galvalume purchasing activity is taking place with either US domestic mills or with Mexico. Mexican prices have also fallen in the last week and are now $42.00-$43.00 cwt. ($926-$948/mt or $840-$860/nt) DDP loaded truck delivered into Houston.

*DDP loaded truck in US Gulf ports

**DDP loaded truck delivered into Houston