Downtrend in local Chinese HDG market

Thursday, 17 January 2019 14:08:40 (GMT+3)   |   Shanghai
       

During the week ending January 17, average prices in the Chinese domestic hot dip galvanized (HDG) market have softened, while transaction activity in the market has been at low-to-medium levels. Average HDG prices in the local Chinese market are presented in the following table.  

During the given week, sentiment in the domestic HDG market has been mostly downbeat, and this has exerted a negative impact on prices in the market. As of the end of next week, some HDG producers will start to halt operations ahead of the Chinese New Year holiday (February 2-10) and so supply will be reduced. It is expected that HDG prices in the Chinese domestic market will move sideways in the coming week.

Product name

Spec.

Quality

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

4,700

694

↓110

Guangzhou

Angang

4,280

632

↑60

Boxing

Angang

4,880

721

0

Average

-

4,620

682

↓17

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Tangsteel

5,140

759

↓110

Guangzhou

Guofeng

4,500

665

↑60

Boxing

Fengming

4,630

684

0

Average

-

4,757

703

↓17


16 percent VAT is included in all prices and all prices are ex-warehouse.

 $1 = 6.77 RMB


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