During the week ending October 24, Chinese domestic hot dip galvanized (HDG) prices have continue to slide down. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Amid the passive sentiment in the market and small tonnages being booked, HDG prices have maintained their downward trend in the Chinese domestic market. Although inventory levels are quite low now, most traders think that prices will continue to decline in the coming period. In recent weeks, traders have not been buying much HDG material from steel mills. In the meantime, downstream users have not placed large orders for HDG. It is expected that local Chinese HDG prices will remain on a weak trend during the next seven days.