Ex-China HDG offers have edged up slightly over the past week on the lower end of the price range. HRC futures prices have seen slight changes, while local HDG prices have indicated some increases, bolstering market sentiments to a certain degree.
Specifically, offers from large Chinese mills have been heard at around $585-600/mt FOB for January 2026 shipment, compared to $580-600/mt FOB last week, while offer prices from smaller mills have been heard at $565-585/mt FOB, up by $2.5/mt on average week on week.
As a result, the SteelOrbis reference price for ex-China Z120 HDG stands at $565-600/mt FOB, versus $560-600/mt FOB last week.
During the given week, HRC futures prices have fluctuated within a limited range, bolstering market sentiments. Since the orders received by HDG producers from home appliance manufacturers have been insufficient, some HDG producers in the private sector have reduced outputs by 30 percent, resulting in reduced supply to the market and providing support for prices. Major Chinese steelmaker Baosteel has decided to keep its local HDG base prices stable for delivery in December this year, affecting prices in the spot market.
It is thought that HDG prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Average 1.0 mm SGCC hot dip galvanized spot prices in China have gained RMB 10/mt ($1.4/mt) compared to November 6, standing at RMB 3,877/mt ($546/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 13, HRC futures at Shanghai Futures Exchange are standing at RMB 3,254/mt ($467/mt), decreasing by RMB 2/mt ($0.28/mt) since November 6, while down 0.12 percent compared to the previous trading day, November 12.
$1 = RMB 7.0865
