During the week ending November 12, Chinese domestic hot dip galvanized (HDG) prices have followed a stable trend, while overall transaction activity in the market has been at low levels. Average HDG prices in the local Chinese market are presented in the table below.
Recently, prices of flat steel in China have declined to very low levels, resulting in significant losses for steelmakers. Accordingly, domestic CRC producers have together decided to keep their prices stable, thereby providing support for local HDG market prices. However, as winter is approaching, demand is expected to become even more sluggish, especially in northern China, which will exert a negative impact on HDG prices. It is thought that HDG prices in the Chinese domestic market will likely indicate a slight downtrend 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 | 2,550 | 400 | 0 |
Guangzhou | Angang | 3,100 | 487 | 0 | |||
Boxing | Angang | 3,910 | 614 | 0 | |||
Average | - | 3,187 | 500 | 0 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 2,660 | 418 | 0 |
Guangzhou | Ma steel | 3,600 | 565 | 0 | |||
Boxing | Hengtong | 2,800 | 440 | 0 | |||
Average | - | 3,020 | 474 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.37 RMB