In the past week, the Chinese hot galvanized iron (HDG) market has indicated only very slight price fluctuations. Average HDG prices in China can be viewed in the SteelOrbis price reports section.
At present, in China steel mills' HDG prices are higher than traders' prices. Given that market prices appear to have moved close to the bottom in past weeks, traders have become a bit more optimistic, while many of them maintain a wait-and-see-stance towards the market.
Transaction activity in the HDG market is just at moderate levels, while demand from end-users has not yet improved. Meanwhile, overseas demand also remains on the weak side. In this context, for the time being it is hard for traders to push up their prices for HDG.
Summing up, amid both negative and positive factors, it is expected that the Chinese HDG market will trend sideways in the coming week.