During the week ending May 14, Chinese domestic hot dip galvanized (HDG) prices have indicated a downward trend, while overall transaction activity is still at low levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, demand from downstream users in China for HDG products has remained slack, while traders have lowered their sales prices in an attempt to stimulate transaction activities. The greater stability of local HRC prices has provided some support for HDG prices, though demand is still the main factor influencing the local HDG price trend. It is thought that HDG prices in the Chinese domestic market will likely edge down further 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 | 3,480 | 561 | 0 |
Guangzhou | Angang | 3,700 | 597 | ↓230 | |||
Boxing | Angang | 3,990 | 644 | ↓20 | |||
Average | - | 3,723 | 601 | ↓83 | |||
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 | 3,250 | 524 | ↓70 | |||
Average | - | 3,383 | 546 | ↓23 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20