Ex-China hot dip galvanized (HDG) prices have decreased slightly over the past week.
Specifically, offers from large mills are heard at around $590-620/mt FOB for January shipment, edging down by $5/mt on average compared to November 21, though offer prices from smaller mills are heard at $590/mt FOB, versus $595/mt FOB last week.
As a result, the SteelOrbis reference price for ex-China Z120 HDG has settled at $590-620/mt FOB, versus $595-625/mt FOB last week.
During the given week, HDG prices in the Chinese domestic market have moved sideways amid the fluctuating trend of HRC futures prices. Since the supply of hot rolled base material has been tight, steelmakers’ production activities have slowed down, resulting in falling inventories in the HDG market, which has bolstered prices to a certain degree. It is thought that HDG prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Average 1.0 mm SGCC hot dip galvanized spot prices in China have remained stable compared to November 21, standing at RMB 4,047/mt ($563/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 28, HRC futures at Shanghai Futures Exchange are standing at RMB 3,474/mt ($483/mt), decreasing by RMB 23/mt ($3.2/mt) or 0.66 percent since November 21, while up 0.26 percent compared to the previous trading day, November 27.
$1 = RMB 7.1894
