Ex-China hot dip galvanized (HDG) prices have moved sideways over the past week.
Specifically, offers from large mills are heard at around $600-625/mt FOB for January shipment, remaining stable on average compared to October 24, though offer prices from smaller mills are heard at $600/mt FOB.
As a result, the SteelOrbis reference price for ex-China Z120 HDG has settled at $600-625/mt FOB, the same as last week.
During the given week, HDG prices in the Chinese domestic market have edged up slightly amid increasing HRC futures prices. Demand for HDG has not seen any significant improvement, while downstream users have mostly held a wait-and-see stance, exerting a negative impact on prices. However, due to the stimulus polices for replacing old home appliances with new ones, the demand for certain HDG products has been quite good. It is expected 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 gained RMB 26/mt ($3.6/mt) compared to October 24, standing at RMB 4,033/mt ($566/mt) ex-warehouse, according to SteelOrbis’ information.
As of October 31, HRC futures at Shanghai Futures Exchange are standing at RMB 3,587/mt ($503/mt), increasing by RMB 104/mt ($14.6/mt) or 3.0 percent since October 24, while down 0.14 percent compared to the previous trading day, October 30.
$1 = RMB 7.125
