No turn for the better in HDG price

SteelOrbis Shanghai This week, the hot dip galvanized market price still remained unchanged. The trading volume continued at a low level while market inventories declined slightly compared with last week. Some steel mills released new ex-factory prices for HDG. On December 28, the average market price of 1.0 mm HDG was RMB 5,577/mt ($ 715/mt), down RMB6/mt ($ 1/mt) compared with last week; that of 0.5 mm HDG is RMB 5,927/mt ($ 759/mt), remained unchanged compared with the price last weekend. Meanwhile, the average market price of 0.23 mm HDG imported from the Indian Bhushan company is unchanged at RMB 7,200/mt ($ 922/mt). This week, the HDG market price still remained unchanged on the whole. The trading volume was at a low level while the market inventories decreased slightly. Looking at the overall market situation, though demand decline for HDG in the building industry still influenced the HDG market price, the traders were reassured by the increase in the CR market price and so the market price of HDG retained its stability. Summing up, the market price of HDG is expected to maintain its stable trend next week as well. This week, the domestic zinc price was RMB 36,500/mt ($ 4,673/mt), unchanged compared with last week. Also this week, the new ex-factory prices of Jiangyin UnionSteel and Baotou Steel HDG remained unchanged compared with last week.