Indian hot dip galvanized (HDG) exports have showed mixed trends during the past week, with some sellers continuing to insist on higher prices, but the tradable levels have largely been maintained or have declined in view of quiet market conditions in the key Gulf region, SteelOrbis has learned from trade and industry circles.
Sources said that, while ex-India HDG offer prices have largely remained in the range of $1,320-1,380/mt FOB, the tradable levels have slipped to $1,320-1,330/mt FOB mainly.
“It is normal for the market to fall quiet in the Gulf given the short business hours during Ramadan and most local sellers have preferred to hold the price line for now,” an official at a private integrated mill said.
“However, from the suppliers’ side, the price outlook remains positive. Ex-China HDG prices are firming up,” he said.