Supported by the significant rising trend of hot rolled coil (HRC) prices in the domestic market, some traders have announced tentative hikes in their HDG prices. However, the hikes have not been fully accepted by the market, with not many bookings being concluded. Meanwhile, demand for Chinese pre-painted galvanized iron (PPGI) products in the export markets has increased, resulting in increased HDG consumption by domestic PPGI producers.
The volume of new HDG arrivals in the market and downstream demand levels will be decisive in determining the future domestic HDG price trend. As for the coming week, HDG prices in China are expected to trend sideways.