Cautious sentiment in Chinese domestic HDG market

Thursday, 30 April 2015 12:15:17 (GMT+3)   |   Shanghai
       

During the week ending April 30, Chinese domestic hot dip galvanized (HDG) prices have indicated a slight downtrend for thick specifications, though remaining stable for thin specifications, while overall transaction activity is still at low levels. Average HDG prices in the local Chinese market can be viewed in the SteelOrbis price reports section.
 
During the given week, demand for HDG from downstream customers has been weak, resulting in poor transaction activity in the local HDG market. Traders are mostly cautious and are maintaining a wait-and-see stance, also due to the approach of the Labor Day holiday (May 1-3). As for the coming period, if local HRC prices indicate upward movement, HDG prices in the domestic market will receive some support from the cost side. It is thought that HDG prices in the Chinese domestic market will likely move sideways in the coming week.  

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

3,500

565

↓40

Guangzhou

Angang

4,030

650

↓20

Boxing

Angang

4,010

647

0

Average

-

3,847

620

↓20

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Quantong

3,300

532

0

Guangzhou

Ma steel

3,600

581

0

Boxing

Hengtong

3,320

535

0

Average

-

3,407

550

0


 
17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = RMB6.20


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