During the week ending July 21, the average prices of Chinese domestic hot dip galvanized (HDG) have indicated an upward trend, while the overall transaction activity in the market has still been at low levels. Average HDG prices in the local Chinese market are presented in the table below.
During the given week, following the rises seen in prices of hot rolled coil (HRC) and cold rolled coil (CRC) in the previous week, domestic HDG prices have generally moved up, though they have indicated certain downward corrections since July 19 due to the sharp decreases in ferrous metal futures prices and the current downticks in HRC and CRC prices. On July 18, Shougang issued its ex-works prices for August delivery, keeping its HRC and HDG prices stable, while increasing its CRC prices by RMB 150/mt ($23/mt). Meanwhile, Baosteel and Ansteel have kept their prices stable for August delivery, though they are offering fewer discounts. It is thought that HDG prices in the Chinese domestic market will likely move sideways in the coming week.
Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thick galvanized coils | 1.0 mm x 1,250 mm x C | SGCC | Shanghai | Angang | 3,600 | 540 | ↓40 |
Guangzhou | Angang | 3,780 | 567 | ↑100 | |||
Boxing | Angang | 3,580 | 537 | ↑60 | |||
Average | - | 3,653 | 548 | ↑40 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 3,460 | 519 | ↑160 |
Guangzhou | Ma steel | 3,800 | 570 | ↑250 | |||
Boxing | Hengtong | 3,090 | 463 | ↓10 | |||
Average | - | 3,450 | 517 | ↑133 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.68 RMB