During the week ending October 13, average Chinese domestic hot dip galvanized (HDG) prices have moved on a stable trend, while overall 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, HDG prices have moved on a stable trend, though traders have started to show their intention to raise their offer prices in the near future. After the long National Day Holiday (October 1-7), major Chinese steelmakers Wuhan Iron and Steel Group and Baosteel issued their ex-works prices, both raising their HDG prices for November delivery by RMB 100/mt ($15/mt), which will provide support for HDG prices in the spot market. Meanwhile, domestic prices of hot rolled coil (HRC) and cold rolled coil (CRC) prices have increased, which will exert a positive impact on HDG prices in the coming period. It is thought that HDG prices in the Chinese domestic market will move up in the coming week.
Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thick galvanized coils | 1.0 mm x 1,250 mm x C | SGCC | Shanghai | Angang | 3,940 | 585 | 0 |
Guangzhou | Angang | 4,070 | 605 | 0 | |||
Boxing | Angang | 3,780 | 562 | 0 | |||
Average | - | 3,930 | 584 | 0 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 3,760 | 559 | 0 |
Guangzhou | Ma steel | 3,960 | 588 | 0 | |||
Boxing | Hengtong | 3,680 | 547 | 0 | |||
Average | - | 3,800 | 565 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.73 RMB