The past week has witnessed a slight price uptick in the Chinese hot dip galvanized (HDG) market. As of April 28, the average prices in the Chinese HDG market are as follows:
Product name |
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
Thick HDG |
1.0 mm x 1,250 mm |
SGCC |
5,790 |
+17 |
885 |
+3 |
Thin HDG |
0.5 mm x 1,000 mm |
SGCC |
5,833 |
0 |
892 |
0 |
Due to the higher prices of hot rolled coil (HRC)/cold rolled coil (CRC) products, HDG traders in China have felt more confident in the past week, and their mainstream offers have risen by RMB 20/mt ($3.06/mt). Traders have also reported greater numbers of inquiries. However, mills have stated that the recent poor demand cannot support further price increases.
Most traders are still cautious about the prospects for the market in May and June, and so are trying to maintain low inventory levels. Accordingly, aggregate HDG inventory has not changed much in the past week.
To sum up, increased confidence has led to a slight price uptick in the Chinese HDG market, but prices may not rise any further. The HDG market price is expected to remain stable in the coming week. However, there could be a rebound after the Labor Day holiday.