During the week ending October 23, Chinese domestic hot dip galvanized (HDG) prices have generally continued to indicate a slight downtrend, while overall transaction activity has remained at poor levels. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, raw materials prices have moved on a fluctuating trend, exerting a negative impact on HDG prices. Traders stated that, while some HDG offer prices have been stable, there has been room for negotiation with buyers. Meanwhile, although a few steelmakers have kept their HDG prices for November delivery unchanged, most steelmakers have reduced their HDG ex-works prices for November delivery. At the same time, some traders have sought and obtained discounts from steelmakers on previously booked materials. It is expected that HDG prices in the Chinese domestic market will continue to be characterized by a soft trend in the coming week.