During the week ending October 11, hot dip galvanized (HDG) prices have slightly risen in the Chinese domestic market. Average HDG prices in China can be viewed in the SteelOrbis price reports section.
After the National Day holiday (October 1-7), buying activity in the Chinese HDG market has increased noticeably amid the overall positive atmosphere in the market, thereby providing support for the upward movement of domestic HDG prices.
However, prices of HDG products in China are not expected to rise much further as many traders are still postponing their purchases, while mills' announcements of new prices have not had any great impact. Major steel producers WISCO and Baosteel have both announced their prices for November, with a minor upward adjustment made by WISCO and no change made by Baosteel. Although Baosteel has kept its list prices unchanged, it has actually cancelled previous preferential pricing for some specifications.
As for the coming period, HDG prices in the Chinese market will likely trend sideways, with little possibility of any significant decline.