Ex-China hot dip galvanized (HDG) offer prices have moved down slightly in the past week amid the decreasing trend in local prices. Offers are at $840-870/mt FOB for late May shipment this week, moving down by $10/mt on average.
The reference deal prices have been heard at $830-850/mt FOB, down from $850/mt FOB last week, amid the big drop in ferrous metal futures prices and slow trading.
“Chinese steelmakers have cut their ex-China HDG offer prices slightly, while the demand in the local market has been steady, which may bolster export offer prices again,” an international trader said.
During the given week, domestic HDG prices have seen declines amid the decreasing trend in ferrous metal futures prices. Meanwhile, inventory levels of HDG have risen slightly, which has exerted a negative impact on prices. Average 1.0 mm SGCC hot dip galvanized spot prices in China have lost RMB 76/mt ($11.7/mt) week on week to RMB 6,120/mt ($941.5/mt) ex-warehouse, according to SteelOrbis’ information.
As of March 11, HRC futures prices at the Shanghai Future Exchange are standing at RMB 4,925/mt ($758/mt), decreasing by RMB 91/mt ($14/mt) or 1.8 percent since March 4.
$1 = RMB 6.497
