During the week ending June 18, Chinese domestic hot dip galvanized (HDG) prices have moved on a slight downtrend, while overall transaction activity in the market is still at low levels. Average HDG prices in the local Chinese market are presented in table below.
During the given week, major domestic steelmakers have issued their ex-works prices for July delivery, with Baosteel, Anshan Iron and Steel and Baogang decreasing their HDG prices by RMB 50-100/mt ($8-16/mt) compared to their prices for June delivery, with these decreases exerting a negative impact on HDG prices in the spot market. Meanwhile, recent heavy rains have affected demand from downstream users, resulting in slack transaction activity. It is expected that HDG prices in the Chinese domestic market will continue their slight downtrend in the coming week.
Product name | Specification (mm) | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thick galvanized coils | 1.0 x 1,250 x C | SGCC | Shanghai | Angang | 3,430 | 552 | ↓20 |
Guangzhou | Angang | 3,600 | 580 | ↓50 | |||
Boxing | Angang | 3,930 | 633 | 0 | |||
Average | - | 3,653 | 588 | ↓24 | |||
Thin galvanized coils | 0.5 x 1,000 x C | SGCC | Shanghai | Quantong | 3,280 | 528 | ↓20 |
Guangzhou | Ma steel | 3,600 | 580 | 0 | |||
Boxing | Hengtong | 3,200 | 515 | 0 | |||
Average | - | 3,360 | 541 | ↓7 |
17 percent VAT is excluded in all prices and all prices are ex-warehouse.
$1 = RMB 6.21