During the week ending July 2, Chinese domestic hot dip galvanized (HDG) prices have seen a slight downtrend, while overall transaction activity in the market has remained at low levels. Average HDG prices in the local Chinese market are presented in the table below.
Approaching the end of June, local traders of HDG were experiencing tight liquidity, which affected their confidence as regards the future prospects for the market. Meanwhile, although not so many new supplies have been arriving in the market, inventory levels in the domestic HDG market are still high as consumption has been slow. It is expected that HDG prices in the Chinese domestic market will continue their downward movement 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 | 3,400 | 548 | ↓10 |
Guangzhou | Angang | 3,600 | 581 | 0 | |||
Boxing | Angang | 3,930 | 634 | 0 | |||
Average | - | 3,643 | 588 | ↓3 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 3,240 | 523 | ↓20 |
Guangzhou | Ma steel | 3,600 | 581 | 0 | |||
Boxing | Hengtong | 3,200 | 516 | 0 | |||
Average | - | 3,347 | 540 | ↓7 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20