Ex-China hot dip galvanized (HDG) prices have moved sideways over the past week amid slow trade conditions due to the New Year holiday.
Specifically, offers from large mills are heard at around $585-615/mt FOB for February shipment, remaining stable on average compared to December 26, though offer prices from smaller mills are heard at $575-585/mt FOB.
As a result, the SteelOrbis reference price for ex-China Z120 HDG has settled at $575-615/mt FOB, the same as last week.
During the given week, HDG prices in the Chinese domestic market have remained stable amid relatively low inventory levels. The tight supply of HDG has provided support for prices. Demand from downstream users has been slack during the traditional offseason, negatively affecting HDG prices. It is expected that HDG prices in the Chinese domestic market will likely move sideways in the coming week.
Average 1.0 mm SGCC hot dip galvanized spot prices in China have remained unchanged compared to December 26, standing at RMB 4,083/mt ($568/mt) ex-warehouse, according to SteelOrbis’ information.
As of January 2, HRC futures at Shanghai Futures Exchange are standing at RMB 3,424/mt ($476/mt), decreasing by RMB 4/mt ($0,5/mt) or 0.1 percent since December 26 2024, while up 0.03 percent compared to the previous trading day, December 31 2024.
$1 = RMB 7.1879