During the week ending December 29, the average prices of Chinese domestic hot dip galvanized (HDG) have indicated fluctuations, with both increases and decreases seen in the market, while overall transaction activity in the market has remained at low-to-medium levels. Average HDG prices in the local Chinese market are presented in the following table.
In the first half of the past week, purchases of HDG were slack and some traders lowered their prices amid negative sentiment. Transaction activity then improved due to the decrease in prices. In the latter part of the week, domestic HDG prices indicated a rising trend due to relatively high costs. Meanwhile, HDG inventories are on the low side, which will provide a certain degree of support for HDG prices in the spot market. It is thought that HDG prices in the Chinese domestic market will likely just indicate slight fluctuations 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 | 5,330 | 767 | ↓20 |
Guangzhou | Angang | 5,020 | 722 | ↓30 | |||
Boxing | Angang | 4,740 | 682 | 0 | |||
Average | - | 5,030 | 724 | ↓17 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Tangsteel | 5,040 | 725 | ↑300 |
Guangzhou | Guofeng | 4,940 | 711 | ↑20 | |||
Boxing | Fengming | 4,670 | 672 | 0 | |||
Average | - | 4,883 | 703 | ↑106 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.95 RMB