During the week ending July 25, Chinese domestic hot dip galvanized (HDG) prices have continued to move up. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
With lower availability of spot HDG products in the Chinese market, many traders have raised their offers slightly. However, demand and overall market activity have been on the low side. At present, few domestic HDG plants have plans to carry out overhaul work. At the same time, traders are not active in placing orders and so local mills' inventories are still at very high levels. In order to support prices, some HDG mills have decided to reduce supply to the market. The downstream sectors are still cautious about making any purchases for the month of August. As for the coming week, it is expected that movement of HDG prices in the Chinese market will range between sideways and slightly upward.