During the week ending August 27, Chinese domestic hot dip galvanized (HDG) prices have moved on a stable trend, 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.
During the given week, local HRC prices have indicated a decreasing trend, exerting some negative pressure on HDG prices, though most traders have kept their offer prices stable, with some traders willing to reduce prices in negotiations. Local HDG producers have still failed to attract many orders for September delivery as many prospective buyers are seeking to negotiate on prices, and this may be a negative sign as regards the outlook for activity in the traditional peak season for business in September. It is thought that HDG prices in the Chinese domestic market will likely move sideways 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 | 2,780 | 434 | 0 |
Guangzhou | Angang | 3,500 | 546 | 0 | |||
Boxing | Angang | 3,910 | 610 | 0 | |||
Average | - | 3,397 | 530 | 0 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 2,900 | 452 | 0 |
Guangzhou | Ma steel | 3,600 | 562 | 0 | |||
Boxing | Hengtong | 3,000 | 468 | 0 | |||
Average | - | 3,167 | 494 | 0 |
$1 = 6.41 RMB