Traders still wait and see in local Chinese HDG market

Thursday, 10 July 2014 14:29:42 (GMT+3)   |   Shanghai
       

During the week ending July 10, Chinese domestic hot dip galvanized (HDG) prices have followed a stable trend, while transaction activity has remained at poor levels, with traders mostly holding a wait-and-see stance towards business. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section. 

Currently, bearish sentiment is observed among HDG traders as regards the future prospects for the domestic market. Meanwhile, amid poor transaction activity, steelmakers have been receiving fewer orders and so their inventories have been rising. It is expected that HDG prices will indicate a slight downtrend in the coming week due to sluggish demand and higher inventory.


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