In the past week, Chinese hot dip galvanized (HDG) prices have generally trended sideways, with some slight fluctuations seen in the main local markets. As of July 29, average HDG prices in the main Chinese markets are as follows:
Product name |
Specification |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
Thick HDG |
1.0 mm x 1,250 mm |
SGCC |
5,763 |
0 |
895 |
0 |
Thin HDG |
0.5 mm x 1,000 mm |
SGCC |
5,853 |
-7 |
909 |
-1 |
On July 28, the price of SGCC 1.0 mm x 1,250 mm x C galvanized products in the markets of Shanghai, Guangzhou and Boxing respectively stands at RMB 5,820/mt ($904/mt), RMB 5,920 /mt ($919/mt) and RMB 5,550/mt ($862/mt); meanwhile, the price of SGCC 0.5 mm x 1,000 mm x C stands at RMB 5,630/mt ($874/mt), RMB 6,380/mt ($991/mt) and RMB 5,550/mt ($862/mt) in the above respective markets. These prices include 17 percent VAT ($1 = RMB 6. 44).
In the past week, given the frequent fluctuations in the stock market and in the steel futures market, market players have been adopting a wait-and-see stance in China's spot steel markets, with activity becoming more sluggish in the HDG market. Many traders are not inclined to give offers currently, and transaction volumes are not at good levels. However, inventory is low and so inventory pressure does not exist.
It is expected that the Chinese HDG market will trend sideways in the coming week.