During the week ending March 15, the Chinese hot dip galvanized (HDG) market has maintained a slight uptrend. Average prices of HDG in China can be viewed in the SteelOrbis price reports section.
In the given week, traders have generally been seeking to push up their prices on the back of some improvements in activity levels and also supported by rising costs. However, it make be difficult for prices to indicate substantial increases in the coming period as overall demand for HDG still remains at low levels. Traders state that decreasing supplies in the spot market have also contributed to the recent price increases. However, with the anticipated arrival of March shipments, inventory levels are expected to rise.
Overall, due to uncertainty in the market many buyers prefer to maintain a wait-and-see stance. It is expected that the Chinese HDG market will continue its rising trend in the coming week.