During the week ending October 18, hot dip galvanized (HDG) prices in the Chinese domestic market have moved sideways. Average HDG prices in the market can be viewed in the SteelOrbis price reports section.
In the week in question, the local Chinese HDG market has been quiet due to the wait-and-see mode of many buyers. On the one hand, traders' inventories are still at normal levels, with no significant shortages seen for any specifications. On the other hand, downstream pre-painted galvanized iron (PPGI) producers are operating at normal capacity utilization rates, providing support for demand for HDG products.
In the new price policies announced by major domestic steel producers including Baosteel, Shougang Steel and WISCO, no big adjustments were made to HDG prices, implying that mills are confident enough about the future HDG market. Market insiders expect that other steel mills in China will not make any great changes to their HDG prices either.
It is expected that HDG prices in China will follow a neutral trend in the coming week.