Ex-China hot dip galvanized (HDG) offer prices have moved sideways in the past week - after declining slightly in the previous week. Offers are at $510-535/mt FOB for late June shipment this week, moving sideways compared to one week ago. At the same time, bids have been heard at $510-520/mt FOB from Southeast Asia and South America.
During the given week, downstream users in China concluded purchases as needed, resulting in slight declines in inventories, which were still at comparatively high level. Since the coronavirus pandemic worldwide will unlikely ease in a short term, market players have been cautious towards prospect for the future HDG market.
Average 1.0 mm SGCC hot dip galvanized spot prices in China have decreased by RMB 7/mt ($1/mt) week on week to RMB 4,313 /mt ($608.4/mt) ex-warehouse, according to SteelOrbis’ information.
As of April 23, HRC futures prices at the Shanghai Future Exchange are standing at RMB 3,173/mt ($447.6/mt), decreasing by RMB 61/mt ($8.6/mt) or 1.9 percent since April 16.
$1 = RMB 7.0887
