During the week ending September 21, the average prices in the Chinese domestic hot dip galvanized (HDG) market have indicated an overall downtrend, 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 followed a downward trend, exerting a negative impact on HDG prices in the domestic spot market. Due to environmental protection measures being introduced in Handan, Hebei Province and Beijing, demand for HDG has been slacker. However, the cost of booking HDG from steelmakers for October delivery is higher than current spot market prices, thereby providing support for prices in the spot market. It is thought that HDG prices in the Chinese domestic market will likely move down 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 |
5,090 |
771 |
↓50 |
|
Guangzhou |
Angang |
5,300 |
803 |
↓270 |
|||
|
Boxing |
Angang |
5,070 |
768 |
↓50 |
|||
|
Average |
- |
5,154 |
781 |
↓123 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,920 |
745 |
↓30 |
|
Guangzhou |
Guofeng |
5,100 |
773 |
↓50 |
|||
|
Boxing |
Fengming |
4,820 |
730 |
↓50 |
|||
|
Average |
- |
4,947 |
750 |
↓43 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.60 RMB