During the week ending August 3, the average prices in the Chinese domestic hot dip galvanized (HDG) market have continued to rise, while transaction activity in the market has been at medium levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, major domestic steelmaker Jiangsu Province-based Shagang Group has increased its ex-works prices for hot rolled coil (HRC) by RMB 380/mt ($57/mt) to RMB 4,030/mt ($600/mt), resulting in higher costs for HDG producers, which will likely push up HDG prices in the future. Meanwhile, ferrous metal futures prices in China have risen significantly due to environmental inspections, and this has also provided support for the HDG market. It is thought that HDG prices in the Chinese domestic market will likely edge up further in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thick galvanized coils |
1.0 mm x 1,250 mm x C |
SGCC |
Shanghai |
Angang |
4,950 |
737 |
↑70 |
|
Guangzhou |
Angang |
5,450 |
811 |
↑50 |
|||
|
Boxing |
Angang |
4,920 |
732 |
↑80 |
|||
|
Average |
- |
5,106 |
760 |
↑67 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,720 |
702 |
↑200 |
|
Guangzhou |
Guofeng |
4,860 |
723 |
↑60 |
|||
|
Boxing |
Fengming |
4,670 |
695 |
↑80 |
|||
|
Average |
- |
4,750 |
707 |
↑113 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.72 RMB