Slight downward movement in Chinese domestic HDG market

Thursday, 17 September 2015 14:09:06 (GMT+3)   |   Shanghai
       

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


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