In the past week, Chinese hot dip galvanized (HDG) prices increased slightly in some areas, especially in Guangzhou, while prices in other local markets remained stable. As of July 14, 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 |
5,757 |
+10 |
890 |
+2 |
Thin HDG |
0.5mm x 1,000 mm |
SGCC |
5,860 |
0 |
906 |
0 |
On July 14, 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 5,770/mt ($892/mt), RMB 5,950 /mt ($920/mt) and RMB 5,550/mt ($858/mt); meanwhile, the price of SGCC 0.5 mm x 1,000 mm x C stands at RMB 5,630/mt ($870/mt), RMB 6,400/mt ($989/mt) and RMB 5,550/mt ($858/mt) in the above respective markets. These prices include 17 percent VAT ($1 = RMB 6.47).
In the past week, the market trends in China's main cities varied from each other to some degree, depending on traders' expectations for the future market. At present, some traders believe prices will increase in the future, and so they try to slightly increase their prices; on the other hand, other traders consider that in the current market many cargoes have arrived, and so they are anxious to sell off materials now without increasing their prices.
Summing up, this week there have been no obvious price changes in China's main HDG markets. With Baosteel and WISCO having issued August shipment prices, China's other leading mills will issue new price policies next week. It is predicted these price policies will exert an influence on traders' expectations for the market in the coming period.