Wait-and-see mood prevails in local Chinese HDG market

Thursday, 11 May 2017 13:44:23 (GMT+3)   |   Shanghai
       

During the week ending May 11, average Chinese domestic hot dip galvanized (HDG) prices have softened slightly, while transaction activity in the overall market is currently at low-to-medium levels. Average HDG prices in the local Chinese market are presented in the following table.

During the given week, the significant declines in the Chinese ferrous metal futures market have contributed to the downtrend of domestic hot dip galvanized (HDG) prices. Meanwhile, liquidity in the market is much tighter after several strict control regulations announced by the central government recently. A wait-and-see mood prevails among market players. On the other hand, inventory levels of HDG in the market are now at lower levels, exerting a positive impact on HDG prices in the latter part of the week. It is thought that HDG prices in the Chinese domestic market will likely fluctuate within a limited range 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

4,720

684

↓50

Guangzhou

Angang

4,390

636

↓80

Boxing

Angang

4,350

630

0

Average

-

4,487

650

↓43

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Tangsteel

4,000

580

0

Guangzhou

Guofeng

4,250

616

↓50

Boxing

Fengming

3,990

578

0

Average

-

4,080

591

↓17

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = 6.90 RMB


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