SteelOrbis sources have confirmed that while spot market prices for US domestic .012 G30 coil have continued to soften in the past two weeks, from $64-$66 cwt. ($1,411-$1,455/mt or $1,280-$1,320/nt), FOB mill, to approximately $62-$65 cwt. ($1,367-$1,433/mt or $1,240-$1,300/nt), FOB mill, import offers for this same product have trended neutral.
As such, current prices from South Africa, Vietnam, and Europe are still being heard at approximately $64-$66 cwt. ($1,411-$1,455/mt or $1,280-$1,320/nt), DDP loaded truck in US Gulf coast ports. Offers from Mexican mills are reportedly in the same range, FOB Texas.
However, despite recent dips in domestic pricing, US import Gr80 AZ55 / 0.019” coil offers from Vietnam, Brazil, and Mexico are still holding at $61-$63 cwt. ($1,345-$1,389/mt or $1,220-$1,260/nt), DDP loaded truck in US Gulf coast ports and FOB Texas, respectively, which is still approximately $2.00 cwt. ($44/mt or $40/nt) lower than ex-US mill spot market pricing.
Sources also believe that it’s possible that US prices are at or close to their bottom, which could entice buyers to book offshore.
“People are still booking imports, but if the offshore pricing starts to become more competitive, I think we’ll see order activity start to pick up,” a source said.