It's reported that the prices of hot dip galvanized steel have remained stable in Shanghai market. Currently, the HDG 1.0mm of Masteel is prevailed at RMB 5850/ton on August 25th.
Meanwhile, pre-painted steel prices have increased by RMB 350/ton compared with the price two weeks ago. In view of recent sharply price hike, most buyers would rather wait and see market trend for a temporary to decide next moves.
It's a rumor said that Baosteel will cut its production by 10,000 tons so supply will get tighten in the coming months.
Some market players said now is a good time to buy because steel stockiest and distributors are more willing to cut prices for buyers on concern over tight working capitals