Downward trend in local Chinese HDG market

Thursday, 08 November 2018 14:22:51 (GMT+3)   |   Shanghai
       

During the week ending November 8, average prices in the Chinese domestic hot dip galvanized (HDG) market have declined, 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.  

During the given week, HDG prices in the domestic spot market have been lower than the prices at which traders previously ordered in products from steelmakers, while demand from downstream users has not seen any significant improvement. Traders are still willing to negotiate on prices in order to stimulate sales. Steelmakers and traders in the HDG market are mostly downbeat on the prospects for the HDG market in the coming period. It is expected that HDG prices in the Chinese domestic market will edge down further in the week ahead.

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

5,090

734

↓80

Guangzhou

Angang

4,680

675

↓100

Boxing

Angang

5,240

756

↓20

Average

-

5,003

722

↓67

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Tangsteel

5,520

797

↓80

Guangzhou

Guofeng

4,900

707

↓100

Boxing

Fengming

4,990

720

↓20

Average

-

5,137

741

↓67

 

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

$1 = 6.93 RMB 


Similar articles

Romania’s sole flats mill cuts HRC prices, raises HDG and PPGI prices

22 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

Turkey’s coated steel export prices weaken

20 Mar | Flats and Slab

MMK reports record coated rolled product shipments to local market in 2023

19 Mar | Steel News

US HRC prices still ticking downward, prices expected to bottom this month

15 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

CRC and coated steel prices in Turkey down slightly, discounts applicable

13 Mar | Flats and Slab

Tata Steel chooses Danieli for pickling and galvanizing line investment

12 Mar | Steel News

Baosteel keeps local HRC prices stable for April

12 Mar | Flats and Slab

US flats mills take primes down $60-$70/gt, announce HRC price increase

08 Mar | Flats and Slab