SHANGHAI, Dec. 28 (SMM) - China’s galvanized plate/sheet and coil prices continued rising last week due to tightened supply, SMM says.
An increasing number of steel mills in Hebei and other North China regions cut output for maintenance, reducing hot- and cold-rolled product supply. SMM also learned traders did not hoard stocks in large amount previously, so galvanizing prices in Shanghai and Tianjin climbed.
“Market sentiment appeared to have improved recently with rebounding commodity prices, but consumption did not turn around.”said an SMM zinc analyst.
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