No improvement on demand side in local Chinese HDG market

Thursday, 19 November 2015 15:35:21 (GMT+3)   |   Shanghai
       

During the week ending November 19, Chinese domestic hot dip galvanized (HDG) prices have indicated a downward 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, amid low transaction activities, HDG prices have moved on a downward trend in the Chinese domestic market, especially in eastern China, where the weather has been rainy for a long time now, contributing to the slackness of demand. Meanwhile, the declining trend of raw material prices has also exerted a negative impact on HDG prices. Although the end of the month is approaching, traders' sales activities are still slacker than expected, and so they will likely try to speed up their sales by lowering their prices further. It is thought that HDG prices in the Chinese domestic market will likely see a slight downtrend 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

2,490

390

60

Guangzhou

Angang

3,100

486

0

Boxing

Angang

3,910

613

0

Average

-

3,167

496

20

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Quantong

2,540

398

120

Guangzhou

Ma steel

3,400

533

200

Boxing

Hengtong

2,800

439

0

Average

-

2,913

457

107

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = 6.38 RMB


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