During the week ending July 31, Chinese domestic hot dip galvanized (HDG) prices have mostly remained stable, with just some very slight declines seen for thick specifications, while transaction activity is still poor. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, zinc prices in the international market have moved to their highest level of the past three years, providing a certain degree of support for HDG domestic prices in China. However, at the same time oversupply and sluggish demand have exerted negative pressures on local HDG prices. Currently, traders do not hold an optimistic attitude on the future prospects for the market, though they also consider that there is limited room for downward movement of domestic market prices. It is expected that HDG prices in the Chinese domestic market will probably just indicate some slight downticks in the coming week.