During the week ending May 29, Chinese domestic hot dip galvanized (HDG) prices have moved on a stable trend, while overall transaction activity is still at low levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, though transaction activity has been slow, traders have kept their prices stable as they considered that there was limited room for further downward movement in the HDG market. However, the end of the month approaches, traders have started to come under pressure from tight liquidity, which will likely force them to sell HDG products at lower prices. It is expected that HDG prices in the Chinese domestic market will move on 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 | 3,450 | 556 | 0 |
Guangzhou | Angang | 3,650 | 589 | 0 | |||
Boxing | Angang | 3,970 | 640 | 0 | |||
Average | - | 3,690 | 595 | 0 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 3,300 | 532 | 0 |
Guangzhou | Ma steel | 3,600 | 581 | 0 | |||
Boxing | Hengtong | 3,240 | 523 | 0 | |||
Average | - | 3,380 | 545 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20