During the week ending September 17, Chinese domestic hot dip galvanized (HDG) prices have moved on a slight declining trend, while overall transaction activity in the market has been on the slack side. Average HDG prices in the local Chinese market are presented in the table below.
During the given week, demand for HDG in China's domestic market has decreased to some extent due to previous increases in HDG prices. In addition, with steel production in northern China recovering to normal levels, it also intensified the imbalance between supply and demand in the domestic steel market and some traders have been forced to reduce their prices to stimulate sales.
Currently, since no obvious improvement has been seen in demand of end-users, it is thought that HDG prices in the Chinese domestic market will likely move a slight downtrend in the coming period.
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 | 2,780 | 436 | 0 |
Guangzhou | Angang | 3,350 | 526 | -150 | |||
Boxing | Angang | 3,910 | 614 | 0 | |||
Average | - | 3,347 | 525 | -50 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 2,900 | 455 | 0 |
Guangzhou | Ma steel | 3,600 | 565 | 0 | |||
Boxing | Hengtong | 2,900 | 455 | -100 | |||
Average | - | 3,133 | 492 | -33 |
$1 = RMB 6.37