During the week ending September 4, Chinese domestic hot dip galvanized (HDG) prices have indicated downward movement for thin specifications, while remaining unchanged for thick specifications. 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, prices of iron ore, semi-finished steel, hot rolled coil (HRC) and cold rolled coil (CRC) in China have all indicated downward movement, exerting a negative impact on domestic HDG prices. Some traders have been maintaining a wait-and-see stance and have kept their offer prices unchanged, while other traders have lowered their sales prices in order to bring in funds as they are pessimistic on the future prospects for the market. It is expected that HDG prices in the Chinese domestic market will soften further as demand appears unlikely to improve in the coming week.