During the week ending August 20, Chinese domestic hot dip galvanized (HDG) prices have moved on an overall stable trend, while overall transaction activity in the market has remained at low levels. Average HDG prices in the local Chinese market are presented in the table below.
During the given week, big traders in the domestic HDG market have only sold 2,000 mt per day on average, still lower than normal levels. Most traders think that a significant rebound in HDG prices is unlikely in the short term. Amid environmental measures with the approach of the 70th anniversary of victory in the war against Japan, output cuts by HDG producers in northern China have been smaller than anticipated and so will not provide any considerable boost for prices. It is expected that HDG prices in the Chinese domestic market will fluctuate within a limited range in the coming week, with some slight upticks possible due to support from the cost side.
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 | 2,780 | 434 | 0 |
Guangzhou | Angang | 3,500 | 547 | 0 | |||
Boxing | Angang | 3,910 | 611 | 0 | |||
Average | - | 3,397 | 531 | 0 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 2,900 | 453 | 0 |
Guangzhou | Ma steel | 3,600 | 563 | 0 | |||
Boxing | Hengtong | 3,000 | 469 | 0 | |||
Average | - | 3,167 | 495 | 0 |
$1 = 6.40 RMB