During the week ending August 25, the average prices of Chinese domestic hot dip galvanized (HDG) have continued their upward trend, while overall transaction activity in the market has been better than in the previous week and is now at medium levels. Average HDG prices in the local Chinese market are presented in the table below.
During the given week, domestic steelmakers raised their HDG ex-works prices for September delivery, providing support for local HDG spot prices. Meanwhile, China is conducting special inspections to check the progress of capacity cuts in the domestic steel and coal sectors, which will likely reduce production and exert some positive impact on domestic HDG prices. As the traditional peak season for business is approaching, some traders have started to build up their inventories of HDG. It is expected that HDG prices in the Chinese domestic market will likely edge up 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 | 3,920 | 589 | ↑210 |
Guangzhou | Angang | 4,150 | 623 | 0 | |||
Boxing | Angang | 3,750 | 563 | ↑60 | |||
Average | - | 3,940 | 592 | ↑90 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 3,750 | 563 | ↑160 |
Guangzhou | Ma steel | 4,030 | 605 | ↑10 | |||
Boxing | Hengtong | 3,680 | 553 | ↑100 | |||
Average | - | 3,820 | 574 | ↑90 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.66 RMB