During the week ending March 9, the average prices of Chinese domestic hot dip galvanized (HDG) have softened. Overall transaction activity in the market is now at low levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, due to declines seen in prices of hot rolled coil (HRC) and cold rolled coil (CRC), domestic HDG prices have also decreased. Traders have been willing to sell at reduced prices in order to bring in cash. Meanwhile, demand for HDG has slackened, exerting a negative impact on HDG prices. 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 | 5,350 | 774 | ↓30 |
Guangzhou | Angang | 5,130 | 742 | ↓150 | |||
Boxing | Angang | 4,930 | 713 | ↓30 | |||
Average | - | 5,137 | 743 | ↓70 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Tangsteel | 4,670 | 676 | ↓90 |
Guangzhou | Guofeng | 4,950 | 716 | ↓110 | |||
Boxing | Fengming | 4,650 | 673 | ↓130 | |||
Average | - | 4,757 | 688 | ↓110 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.91 RMB