During the week ending May 7, Chinese domestic hot dip galvanized (HDG) prices have indicated a downtrend for thick specifications, though remaining stable for thin specifications, while overall transaction activity is still at low levels.
During the given week, the prices of some higher-priced HDG materials have softened as traders have been seeking to sell and bring in funds. After the Labor Day holiday (May 1-3), transaction activity was at decent levels on the first working day, with inventory replenishment believed to be the main factor, but slowed down after that under the influence of the ongoing sluggishness of demand in the market. It is expected that HDG prices in the Chinese domestic market will 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 | 3.480 | 560 | ↓20 |
Guangzhou | Angang | 3.930 | 633 | ↓100 | |||
Boxing | Angang | 4.010 | 646 | 0 | |||
Average | - | 3.807 | 613 | ↓40 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 3.300 | 531 | 0 |
Guangzhou | Ma steel | 3.600 | 580 | 0 | |||
Boxing | Hengtong | 3.320 | 535 | 0 | |||
Average | - | 3.407 | 549 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21