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