During the week ending Feb 16, 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 low-to-medium levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, domestic prices of semi-finished steel and finished steel in China, including hot rolled coil (HRC) and cold rolled coil (CRC), have indicated an overall rising trend, providing support for HDG prices in the Chinese domestic market. Demand from downstream users has improved, resulting in better transaction activity compared to the previous week. Major Chinese steelmaker Baosteel has issued its ex-works prices for March, keeping its HDG prices unchanged. Meanwhile, HDG inventories have increased after the recent holiday, exerting some negative pressure on HDG prices in the spot market. It is thought that HDG prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product name | Spec. | Quality | 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 | 5,400 | 787 | ↑70 |
| Guangzhou | Angang | 5,160 | 752 | ↑170 | |||
| Boxing | Angang | 4,840 | 706 | ↑80 | |||
| Average | - | 5,133 | 748 | ↑107 | |||
| Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Tangsteel | 4,880 | 711 | ↑50 |
| Guangzhou | Guofeng | 5,020 | 732 | ↑100 | |||
| Boxing | Fengming | 4,570 | 666 | ↑130 | |||
| Average | - | 4,823 | 703 | ↑93 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.86 RMB