During the week ending October 27, average Chinese domestic hot dip galvanized (HDG) prices have indicated an upward trend, while overall transaction activity in the market has slackened and is now at low-to-medium levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, after the continuous rises seen in HDG prices, market participants have been more cautious about concluding purchases, resulting in slacker activity in the market. Other domestic finished steel prices have moved up, providing support for the upward trend of HDG prices. On the negative side, the slacker demand for HDG will likely exert a negative impact on HDG prices in the coming period. It is thought that HDG prices in the Chinese domestic market will likely move sideways or follow a slight downtrend in the week ahead.
Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thick galvanized coils | 1.0 mm x 1,250 mm x C | SGCC | Shanghai | Angang | 4,120 | 609 | ↑40 |
Guangzhou | Angang | 4,160 | 614 | ↑40 | |||
Boxing | Angang | 3,800 | 561 | 0 | |||
Average | - | 4,027 | 595 | ↑27 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Tangsteel | 3,800 | 561 | ↑40 |
Guangzhou | Guofeng | 4,030 | 595 | ↑50 | |||
Boxing | Fengming | 3,700 | 547 | 0 | |||
Average | - | 3,843 | 568 | ↑30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.77 RMB