During the week ending September 26, Chinese domestic hot dip galvanized (HDG) prices have not indicated any significant changes, while activity has been weak. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
With the approach of the National Day holiday (Oct, 1-7), Chinese HDG traders have been busy seeking orders. In the given week, HDG prices have mostly remained stable across China, with just a slight downtick observed in prices in Boxing in Shandong Province. Due to uncertainty as regards the likely future trend of the market, traders are still somewhat cautious. In view of tepid demand from downstream segments, slack transaction activity and the stable prices announced by mills for October, HDG spot prices in China will likely lack momentum for upward movement. However, with transactions currently being concluded at the low-to-medium end of the offer price range, traders are not inclined to cut their offers.
As for the coming week, it is thought that HDG prices in the Chinese domestic market will either remain stable or just see minor fluctuations.