During the week ending May 21, Chinese domestic hot dip galvanized (HDG) prices have indicated a downward trend, while overall transaction activity is still at low levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, traders have been ready to sell at lower prices to stimulate sales activities and bring in cash. Although most steelmakers have kept their ex-works prices for HDG stable, there is room for negotiation between buyers and sellers. Meanwhile, there are reports that more HDG resources will be delivered by some steelmakers into the Shanghai market at prices lower than current mainstream prices, which may impact local HDG market prices. It is expected that HDG prices in the Chinese domestic market will continue to edge down 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 | 3,450 | 556 | ↓30 |
Guangzhou | Angang | 3,650 | 589 | ↓50 | |||
Boxing | Angang | 3,970 | 640 | ↓20 | |||
Average | - | 3,690 | 595 | ↓33 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 3,300 | 532 | 0 |
Guangzhou | Ma steel | 3,600 | 581 | 0 | |||
Boxing | Hengtong | 3,240 | 523 | ↓10 | |||
Average | - | 3,380 | 545 | ↓3 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20