In the past week, the Chinese hot dip galvanized (HDG) steel market has again trended downwards, though by a smaller margin. Average HDG prices in the main Chinese markets can be viewed in the SteelOrbis price reports section.
At present, HDG prices in China are on the low side and it is difficult for steel mills to make a profit from HDG sales. If they continue to revise prices downwards, they will suffer losses. Accordingly, the steel mills are now adopting a wait-and-see stance. Traders also express uncertainty about the market outlook.
To sum up, it is expected that China's HDG market will fluctuate in a slight downward direction in the coming week.