During the week ending January 21, Chinese domestic hot dip galvanized (HDG) prices have continued their stable trend, while overall transaction activity in the market has been at low levels. Average HDG prices in the local Chinese market are presented in the table below.
During the given week, cold weather has hit China with snow spreading among the country, exerting a negative impact on demand for HDG products. Meanwhile, inventories held by traders have increased, placing some negative pressure on HDG prices. As the Chinese New Year holiday (February 8-14) is approaching, downstream users of HDG are expected to halt their activities, which will result in a further slackening of demand. It is thought that HDG prices in the Chinese domestic market will likely continue to move on a stable trend 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 | 2,730 | 415 | 0 |
Guangzhou | Angang | 3,100 | 471 | 0 | |||
Boxing | Angang | 3,910 | 594 | 0 | |||
Average | - | 3,247 | 493 | 0 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 2,900 | 441 | 0 |
Guangzhou | Ma steel | 3,400 | 517 | 0 | |||
Boxing | Hengtong | 2,800 | 426 | 0 | |||
Average | - | 3,033 | 461 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.58 RMB