During the week ending May 26, Chinese domestic hot dip galvanized (HDG) prices have continued their downward trend. 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, affected by the weakness in the overall finished steel market, HDG prices have also decreased. Meanwhile, purchases by downstream users are at low levels, exerting a negative impact on confidence as regards the future prospects for the HDG market. In the short term, the supply and demand situation is unlikely to improve. However, given the decreases already recorded by HDG prices in recent weeks, it is thought that HDG prices in the Chinese domestic market will just indicate a slight downtrend 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 | 4,000 | 610 | ↓160 |
| Guangzhou | Angang | 3,950 | 602 | ↓20 | |||
| Boxing | Angang | 3,550 | 541 | ↓50 | |||
| Average | - | 3,834 | 584 | ↓76 | |||
| Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 2,720 | 415 | ↓210 |
| Guangzhou | Ma steel | 3,850 | 587 | ↓350 | |||
| Boxing | Hengtong | 3,170 | 483 | ↓120 | |||
| Average | - | 3,247 | 495 | ↓560 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.56 RMB