During the week ending October 8, Chinese domestic hot dip galvanized (HDG) prices have moved on a stable trend, while overall transaction activity in the market has remained at low levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, the local HDG market has moved on a stable trend due to the National Day Holiday (October 1-7). However, some private sector HDG producers in eastern China have decreased their HDG prices by RMB 50-80/mt ($8-13/mt), resulting in some declines in the cost of HDG arriving in the market after the holiday. Meanwhile, the relatively high inventory levels seen after the long holiday will exert strong pressure on HDG prices, forcing HDG traders to lower their sales prices. It is thought that HDG prices in the Chinese domestic market will likely follow a declining trend in the coming week.
| Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| Thick galvanized coils | 1.0 mm x 1,250 mm x C | SGCC | Shanghai | Angang | 2,780 | 438 | 0 |
| Guangzhou | Angang | 3,350 | 528 | 0 | |||
| Boxing | Angang | 3,910 | 616 | 0 | |||
| Average | - | 3,347 | 527 | 0 | |||
| Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 2,900 | 457 | 0 |
| Guangzhou | Ma steel | 3,600 | 567 | 0 | |||
| Boxing | Hengtong | 2,900 | 457 | 0 | |||
| Average | - | 3,133 | 493 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.35 RMB