In the week ending September 8, hot dip galvanized (HDG) prices in the local Chinese market have been essentially stable, with just minor fluctuations. Meanwhile, amid weak demand, there are few transactions in the market. As of September 8, the average HDG prices in the main markets in China 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 |
-4 |
903 |
-1 |
Thin HDG |
0.5 mm x 1,000 mm |
SGCC |
5,873 |
+16 |
921 |
+3 |
As of September 8, 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 5,790/mt ($908/mt), RMB 5,950 /mt ($933/mt) and RMB 5,550/mt ($870/mt); meanwhile, the price of SGCC 0.5 mm x 1,000 mm x C stands at RMB 5,700/mt ($893/mt), RMB 6,360/mt ($997/mt) and RMB 5,560/mt ($871/mt) in the above respective markets. These prices include 17 percent VAT ($1 = RMB 6. 38).
On the one hand, the ongoing uncertainty in the international financial markets continues to weaken the confidence of traders in the HDG market. On the other hand, buyers are less interested in making new purchases. Meanwhile, with new arrivals replenishing the warehouses of domestic traders, the shortages of some HDG specifications have been relieved. However, with slow purchasing activities, some traders are facing strong inventory pressure. It is expected that China's HDG market will continue to follow a sideways trend in the coming week.