During the week ending November 24, average Chinese domestic hot dip galvanized (HDG) prices have indicated a rising trend, while overall transaction activity in the market has been better than in the previous week and is now at decent levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, since ferrous metal futures prices in China have indicated a rising trend and as HRC prices in the domestic spot market have increased, domestic HDG prices have also moved up. Currently, with the end of the month approaching, traders are expected to focus on sales of stocks previously bought at relatively low prices. Meanwhile, steelmakers' ex-works prices for HDG next month will likely indicate significant increases and will impact price levels in the spot market. It is thought that HDG prices in the Chinese domestic market will likely move up further 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 |
4,600 |
665 |
↑60 |
Guangzhou |
Angang |
4,480 |
647 |
↑10 |
|||
Boxing |
Angang |
4,050 |
585 |
0 |
|||
Average |
- |
4,377 |
632 |
↑23 |
|||
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,340 |
627 |
↑20 |
Guangzhou |
Guofeng |
4,450 |
643 |
↑150 |
|||
Boxing |
Fengming |
4,070 |
588 |
↑110 |
|||
Average |
- |
4,287 |
619 |
↑93 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.92 RMB