Trade case rumors trended loudly going into the Labor Day holiday weekend, with many believing the filing would take place before end of business on Friday. But now, as yet another day has passed without action, many are wondering if this is “a big game of hide and seek” or whether the market is chasing its tail. There is, however, a second train of thought speculates that a case will not be filed until after mills’ Q3 financial reports are released; for now, everything continues to hold at status quo. Indian mills are expected to release revised, higher offer prices to the US this week based on increased zinc costs and few, if anyone, is entertaining orders from China.
Import HDG offers to the US | Cwt. | Metric ton (mt) | Net ton (nt) | Change from last week |
0.012”x40.875” G30 | ||||
China* | $42.00-$43.00 | $926-$950 | $840-$860 | neutral |
India* | $42.50-$43.50 | $937-$959 | $850-$870 | neutral |
0.019" x 48" G90 | ||||
China* | $40.50-$41.50 | $893-$915 | $810-$830 | neutral |
India* | $42.50-$43.50 | $937-$959 | $850-$870 | neutral |
Import Galvalume offers to the US | ||||
0.019x41.5625 Gr80/AZ55 | ||||
China* | $43.00-$44.00 | $948-$970 | $860-$880 | neutral |
India* | $43.00-$44.00 | $950-$970 | $860-$880 | neutral |
*DDP loaded truck in US Gulf ports |