During the week ending August 24, the average prices in the Chinese domestic hot dip galvanized (HDG) market have edged up further though by a very small margin, while 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, ferrous metal futures prices in China have increased, exerting a positive impact on the trend of the HDG spot market. However, downstream users have been unwilling to accept the higher offer prices of HDG, resulting in slacker transaction activity in the market. It is thought that HDG prices in the Chinese domestic market will move sideways in the coming week.
|
Product name |
Spec. |
Quality |
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 |
5,130 |
770 |
↑10 |
|
Guangzhou |
Angang |
5,600 |
841 |
↓20 |
|||
|
Boxing |
Angang |
5,090 |
764 |
↑30 |
|||
|
Average |
- |
5,273 |
792 |
↑7 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,890 |
734 |
0 |
|
Guangzhou |
Guofeng |
5,100 |
766 |
0 |
|||
|
Boxing |
Fengming |
4,840 |
727 |
↑30 |
|||
|
Average |
- |
4,943 |
742 |
↑10 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.66 RMB