During the week ending October 9, Chinese domestic hot dip galvanized (HDG) prices have seen a significant declining trend for thin specifications, with prices staying unchanged for thick specifications, while overall transaction activity has remained at poor levels. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
During the given week, since local HRC prices have indicated further declines, HDG prices in the Chinese domestic market have been negatively affected, with HDG traders lowering their sales prices. Meanwhile, HDG inventory levels are slightly higher than the pre-holiday levels. The rise in inventory was mainly due to the arrivals of materials in the market during the holiday period, while orders received by traders during this period were on the slack side. It is expected that HDG prices in the Chinese domestic market will likely follow a downtrend in the coming week.