During the week ending June 17, Chinese domestic hot dip galvanized (HDG) prices have continued their downward movement. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the past couple of weeks, many leading domestic steel producers have announced reductions in their HDG list prices. Meanwhile, the anticipated slowdown in construction activities in line with the hot summer weather will likely exert a significant negative impact on demand. Domestic steelmakers indicate that very few orders are being booked by local traders, who for their part have been aggressively seeking to sell off materials in stock. It is expected that China's domestic HDG market will continue to trend down in the coming period.