During the week ending August 22, average prices in the Chinese domestic hot dip galvanized (HDG) market have moved down, while transaction activity in the market has been at low levels. Average HDG prices in the local Chinese market are presented in the following table.
Product name | Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Thick HDG | 1.0 x 1,250 | SGCC | 4,736 | -23 | 672 | -3 |
Thin HDG | 0.5 x 1,000 | SGCC | 4,890 | -23 | 694 | -3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, iron ore prices have softened, weakening the support for domestic HDG prices. Meanwhile, demand for HDG has been slack, also exerting a negative impact on HDG market. Players in the HDG market have been unwilling to conclude purchases and have been mostly maintaining a wait-and-see stance. It is thought that HDG prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
$1 = RMB 7.05