HDG prices remain unchanged

SteelOrbis Shanghai This week, the HDG market price remained stable, while the trading volume and market inventories stayed at the same levels as last week. Meanwhile, some steel mills released new ex-factory HDG prices during the week. On January 18, 2007, the average market price of 1.0 mm HDG was unchanged from last week at RMB 5,610/mt ($722/mt), while that of 0.5 mm HDG was RMB 6,060/mt ($780/mt), up RMB 30/mt ($4) compared with the price last weekend. Finally, the average market price of 0.23 mm India BHUSHAN imported HDG was unchanged from last week at RMB 7,200/mt ($927/mt). This week, the HDG market price remained stable on the whole. Though the RMB 100/mt ($13/mt) increase in Tangshan Hengtong's ex-factory price for HDG gave a slight upward push to the HDG market price in the eastern city of Boxing, the price increase was not accepted by end users while the actual trading volume stayed at the same level as last week. Overall, the trading volume and market inventory levels remained unchanged from last week. With the adjustment of the CR market price, the HDG market price has seen greater stability. Meanwhile, Baotou Steel announced unchanged prices in the new ex-factory price list, which also helped to stabilize the market price. Also this week, the HDG export price of the domestic steel mills was unchanged from the previous week at $710-730. Therefore, looking forward to the week ahead, the market price of HDG may be expected to maintain its stable trend. The domestic zinc price this week was RMB35000/mt ($4505/mt), the same as last week. This week, the new ex-factory HDG prices of Tangshen Hengtong increased, while those of Baotou Steel remained unchanged.