During the week ending March 30, average Chinese domestic hot dip galvanized (HDG) prices have indicated significant declines, while overall transaction activity in the market has slackened and is now at low levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, amid the significant overall decline in prices in the Chinese flat rolled steel market, domestic hot dip galvanized (HDG) prices have also decreased, with slacker transaction activity seen in the HDG market compared to the previous week. Meanwhile, the declines in the Chinese ferrous metal futures market as well as high HDG inventory levels have also exerted negative pressure on HDG prices in the spot market. It is expected that HDG prices in the Chinese domestic market will likely edge down further 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 | 5,100 | 740 | ↓80 |
Guangzhou | Angang | 4,780 | 694 | ↓130 | |||
Boxing | Angang | 4,630 | 672 | ↓180 | |||
Average | - | 4,837 | 702 | ↓130 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Tangsteel | 4,390 | 637 | ↓190 |
Guangzhou | Guofeng | 4,620 | 671 | ↓160 | |||
Boxing | Fengming | 4,250 | 617 | ↓280 | |||
Average | - | 4,420 | 642 | ↓210 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.89 RMB