During the week ending December 27, hot dip galvanized (HDG) prices in the Chinese domestic market have mostly moved on a stable trend, though some very slight price fluctuations were also observed in some areas. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Low temperatures, less than -10ºC in northern China and subzero in southern China, have caused some construction activities in China to grind to a halt, dragging down HDG transaction volumes over the past week.
Currently, HDG inventory in the Shanghai market has dropped to a new record low for the past two years. With orders for December shipment being increased, it is thought that HDG inventory in the Shanghai market will rise in the coming week.
With only a few days left to the New Year holiday, local HDG traders may be reluctant to conclude further transactions. It is thought that the Chinese HDG market will follow a stable trend in the short term.