Ex-China hot dip galvanized (HDG) prices have moved sideways in the given period amid stable prices for HDG in the local market and no sharp movements in HRC futures prices.
Specifically, offers from large mills are heard at around $570-575/mt FOB for August shipment, moving sideways since June 19, though offer prices from smaller mills are heard at $560-565/mt FOB, remaining stable compared to June 19.
As a result, the SteelOrbis reference price for ex-China Z120 HDG has remained at $560-575/mt FOB.
During the given week, HDG prices in the Chinese domestic market have moved sideways. HRC futures prices have fluctuated within a limited range, affecting market sentiments. Cautious sentiments have prevailed among market players due to the traditional off-season. Since demand for HDG has been slack, some HDG producers have implemented maintenance works, aiming to reduce outputs and ease the supply pressure. It is expected that HDG prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average 1.0 mm SGCC hot dip galvanized spot prices in China have remained unchanged compared to June 19, standing at RMB 3,843/mt ($534/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 26, HRC futures at Shanghai Futures Exchange are standing at RMB 3,103/mt ($433/mt), remaining stable since June 19, while up 0.39 percent compared to the previous trading day, June 25.
$1 = RMB 7.162
