During the week ending April 13, average Chinese domestic hot dip galvanized (HDG) prices have indicated significant decreases, while overall transaction activity in the market has been at low-to-medium levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, Chinese domestic steel futures prices have moved down, negatively impacting HDG prices in the Chinese spot market. High inventory levels and slacker demand from downstream users are the key factors which have caused the significant declines in HDG prices. Meanwhile, major Chinese steelmaker Baosteel has issued its ex-works prices for May, reducing its HDG prices by RMB 300/mt, negatively influencing expectations for the HDG price trend in the domestic market. It is thought that HDG prices in the Chinese domestic market will likely edge down slightly or move sideways in the coming week.
| Spec. | Quality | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) | |
| Product name | |||||||
| Thick galvanized coils | 1.0 mm x 1,250 mm x C | SGCC | Shanghai | Angang | 4,930 | 716 | ↓100 |
| Guangzhou | Angang | 4,500 | 653 | ↓220 | |||
| Boxing | Angang | 4,250 | 617 | ↓280 | |||
| Average | - | 4,560 | 662 | ↓233 | |||
| Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Tangsteel | 4,020 | 583 | ↓270 |
| Guangzhou | Guofeng | 4,420 | 642 | ↓130 | |||
| Boxing | Fengming | 3,870 | 562 | ↓380 | |||
| Average | - | 4,103 | 596 | ↓260 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.89 RMB