During the week ending August 14, Chinese domestic hot dip galvanized (HDG) prices have generally indicated a slight downtrend, while transaction activity has remained slow. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, supplies in the Chinese domestic HDG market have been on the plentiful side, while transaction activity has continued to be poor amid sluggish demand. Meanwhile, bearish sentiment prevails in the steel futures market, negatively impacting the confidence of traders in the HDG market and causing them to soften their sales prices slightly. However, considering support from raw material costs and domestic steelmaker Baosteel's stable prices for September shipment, traders are mostly holding a wait-and-see stance regarding the future prospects for the market. It is thought that HDG prices in the Chinese domestic market are unlikely to indicate large decreases in the coming week, while slight declines may be seen amid the ongoing sluggishness of demand.