Ex-China hot dip galvanized (HDG) prices have remained unchanged over the past week.
Specifically, offers from large mills are heard at around $600-625/mt FOB for January shipment, moving sideways on average compared to October 31, 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, remaining stable.
During the given week, there have been limited HDG supplies arriving in the spot market, bolstering prices to a certain degree. Since the traditional offseason has started, downstream users have mostly concluded purchases just in line with their needs. At the same time, cautious sentiments have prevailed among market players as inventories of HDG are at medium levels. 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 stable compared to October 31, standing at RMB 4,033/mt ($563/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 7, HRC futures at Shanghai Futures Exchange are standing at RMB 3,590/mt ($501/mt), increasing by RMB 3/mt ($0.4/mt) or 0.08 percent since October 31, while up 0.7 percent compared to the previous trading day, November 6.
$1 = RMB 7.1659
