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

Thursday, 24 September 2015 10:05:19 (GMT+3)   |   Shanghai
       

During the week ending September 24, Chinese domestic hot dip galvanized (HDG) prices have moved on a stable trend, while overall transaction activity in the market has remained at low levels. Average HDG prices in the local Chinese market are presented in the following table. 
                                                                                                                                           
During the given week, buyers have mostly held a wait-and-see stance as regards purchases of HDG materials, resulting in slack transaction activity in the market. As the Mid-Autumn Festival (September 26-27) and National Day Holiday (October 1-7) are approaching, the wait-and-see mood in the market will likely continue, while it is thought that it would be difficult to stimulate transaction activity with price reductions. It is expected that HDG prices in the Chinese domestic market will continue their stable movement 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

2,780

436

0

Guangzhou

Angang

3,350

525

0

Boxing

Angang

3,910

613

0

Average

-

3,347

525

0

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Quantong

2,900

455

0

Guangzhou

Ma steel

3,600

564

0

Boxing

Hengtong

2,900

455

0

Average

-

3,133

491

0

 
$1 = RMB 6.38


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