During the week ending January 31, hot dip galvanized (HDG) prices in the Chinese domestic market have increased, while some steelmakers and traders have stopped their trading activity with the approach of the Spring Festival/Chinese New Year holiday. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Trading activity in China's domestic HDG market has been slowing down ahead of the Spring Festival holiday, with transaction volumes at low levels during the past week. Most traders indicated they would exit the market as of the coming weekend. Currently, demand is very sluggish in the HDG market, though price levels have received support from tight inventory levels. At the same time, traders have been increasing their offer prices as they are looking forward to a bullish market after the holiday.
As for the coming week, it is thought that HDG prices in the Chinese domestic market will follow a stable trend amid slack transaction activity. ,