Ex-China hot dip galvanized (HDG) prices have moved sideways over the past week though some upward bias has been seen in several offers from both mills and traders.
Specifically, offers from large mills are heard at around $610-625/mt FOB for January shipment, versus $600-625/mt FOB last week, though offer prices from smaller mills are heard at $600-615/mt FOB, against $600/mt FOB last week.
As a result, the SteelOrbis reference price for ex-China Z120 HDG has settled at $600-625/mt FOB, versus $600-625/mt FOB last week.
During the given week, HDG prices in the Chinese domestic market have fluctuated within a limited range following the ups and downs seen in HRC futures prices. Demand for HDG from downstream users has been slacker than market players had expected. Market players mostly hold a cautious view as regards the future prospects for the HDG market.
Average 1.0 mm SGCC hot dip galvanized spot prices in China have remained unchanged compared to November 7, still standing at RMB 4,033/mt ($560/mt) ex-warehouse, according to SteelOrbis’ information.
As of November 14, HRC futures at Shanghai Futures Exchange are standing at RMB 3,484/mt ($484/mt), decreasing by RMB 106/mt ($15/mt) or 2.95 percent since November 7, while down 0.99 percent compared to the previous trading day, November 13.
$1 = RMB 7.1659