Ex-China hot dip galvanized (HDG) offer prices have moved up over the past week. Offers from large mills are at $920-930/mt FOB for late July shipments this week, up by $5/mt on average compared to June 2.
Reference deal prices for ex-China HDG have also increased, by $10/mt over the past week to $900-910/mt FOB.
“The improved sentiments among market players have bolstered HDG prices, while the increasing HRC and CRC prices have also positively affected the HDG market,” an international trader said.
During the given week, HDG prices in the Chinese domestic market have seen rises amid the gains seen in local HRC and CRC prices. Prices are rebounding gradually as market sources expect to see stronger demand. Meanwhile, bullish sentiment has prevailed among market players, exerting a positive impact on the HDG market. It is thought that HDG prices in the Chinese domestic market will likely edge up further in the coming week.
Average 1.0 mm SGCC hot dip galvanized spot prices in China have edged up by RMB 24/mt ($3.6/mt) compared to June 2, standing at RMB 6,120/mt ($916/mt) ex-warehouse, according to SteelOrbis’ information.
As of June 9, HRC futures prices at the Shanghai Future Exchange are standing at RMB 4,873/mt (729.5/mt), decreasing by RMB 6/mt ($0.9/mt) or 0.1 percent since June 2.
$1 = RMB 6.6811
