During the week ending January 10, hot dip galvanized (HDG) prices in the Chinese domestic market have witnessed a rising trend. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Over the past week, most traders in China have increased their HDG offer prices amid strong support from rising raw material prices. As of January 10, the price of 62 percent grade Australian iron ore fines for China has reached $158/mt CFR, up 80 percent compared with $88/mt CFR in early September last year. It seems certain that Chinese steelmakers will increase their ex-works prices in the coming period. However, some traders still continue to maintain a wait-and-see stance as current demand has not seen any significant improvement.
As for the coming week, it is expected that HDG prices in Chinese domestic market will maintain their rising trend, though with slower upward movement.