During the week ending July 19, the Chinese hot dip galvanized (HDG) market has remained on a weak trend. Average prices of HDG products in China can be viewed in the SteelOrbis price reports section.
There has not been any recovery in activity levels in the Chinese HDG market in the past week. At the same time, traders are all maintaining a cautious approach, keeping their inventory levels on the low side. As regards the recent HDG price adjustments made by steel mills, traders still think that prices are too high and so they are inclined to continue to wait for further reductions.
It is expected that HDG prices in the Chinese domestic market will continue to trend downward in the coming seven days.