During the week ending February 12, Chinese domestic hot dip galvanized (HDG) prices have continued to follow a downward trend, while transaction activity has slackened further ahead of the Spring Festival holiday (February 18-24). Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, most medium-scale and small traders have started their holiday, resulting in slack transaction activity in the market. At the same time, domestic HDG producers have reduced their outputs, thereby easing the supply pressure in the market. It is expected that HDG prices in the Chinese domestic market will indicate a slight downtrend in the coming week and will remain on a stable trend during the Spring Festival holiday.