During the week ending June 7, the Chinese hot dip galvanized (HDG) market has been more or less stable, with only very slight increases seen. Average HDG prices in China can be viewed in the SteelOrbis price reports section.
In the past week, HDG demand in China has remained slack, though restocking activity by certain traders has provided some support for prices. At the same time, reduced outputs of some domestic color coated producers has contributed to lower demand for HDG. With pessimism prevailing in the market, many traders are not inclined to conclude purchases at present.
It is reported that some leading steel producers may cut their HDG prices for shipments in July. Some traders admit they have been reducing inventories recently to avoid potential risks.
It is thought that HDG prices in the Chinese domestic market will probably continue to slide down in the coming week.