During the week ending April 18, the Chinese domestic hot dip galvanized (HDG) market has witnessed a slight downtrend. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
Against the background of declines in the stock market, the steel futures market and in prices of upstream products, including CRC products, local traders are pessimistic on the prospects for the Chinese HDG market in the coming period, and they have been lowering their offer prices in order to speed up sales. Nevertheless, in some actual transactions price upticks have been observed for materials which are in short supply.
Overall, demand from downstream industries, including the home appliance and automotive sectors, has not seen any significant improvement. It is thought that HDG prices in the Chinese domestic market will just indicate slight fluctuations in the short term.