US import HDG tonnages still trending quiet

Sources close to SteelOrbis have continued to report that bookings for US import hot dipped galvanized (HDG) and Galvalume coil are trending quiet, which is on par with market sources indicated last week. As SteelOrbis reported yesterday, current US prices for 0.019x41.5625 Gr80/AZ55 Galvalume coil have continued to hold in the approximate range of $34.50-$35.50 ($761-$783/mt or $690-$710/nt), and while current futures offers for this same product from Brazilian producers are now trending approximately $3.00 cwt. ($66/mt or $60/nt) below US domestic offer prices, continued uncertainty as to whether US domestic prices have reached bottom, or if they are on an upswing, has many would-be buyers steering clear of booking futures.

It should also be noted that the final determinations in the US HDG trade case are set to be released in mid-January, which, if final margins come in as expected, could re-open the door for Indian HDG producers to resume shipping coated steel to the US.