During the week ending September 28, the average prices in the Chinese domestic hot dip galvanized (HDG) market have continued to decline, 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, ferrous metal futures prices in China started to rebound in the middle of week but are still lower compared to one week ago and have exerted a negative impact on HDG prices in the spot market. Traders are now unwilling to cut their HDG prices further due to support from the cost side. It is thought that HDG prices in the Chinese domestic market will likely move on a stable trend in the coming week as the long National Day Holiday (Oct. 1-8) is about to start.
|
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 |
5,020 |
753 |
↓70 |
|
Guangzhou |
Angang |
5,200 |
780 |
↓100 |
|||
|
Boxing |
Angang |
5,020 |
753 |
↓50 |
|||
|
Average |
- |
5,080 |
762 |
↓73 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,820 |
723 |
↓100 |
|
Guangzhou |
Guofeng |
5,000 |
750 |
↓100 |
|||
|
Boxing |
Fengming |
4,770 |
715 |
↓50 |
|||
|
Average |
- |
4,863 |
729 |
↓83 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.67 RMB