During the week ending December 13, average prices in the Chinese domestic hot dip galvanized (HDG) market have decreased, 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, major Chinese steelmaker Baosteel has issued its ex-works prices for January shipment, reducing its HDG prices by RMB 300/mt ($43.2/mt), thereby exerting a negative impact on HDG prices in the domestic spot market. Meanwhile, a wait-and-see mood has been observed among buyers in the HDG market. As the end of the year is approaching, Chinese HDG producers will come under strong pressure from slack demand from downstream users. It is expected that HDG prices in the Chinese domestic market will move down further in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thick galvanized coils |
1.0 mm x 1,250 mm x C |
SGCC |
Shanghai |
Angang |
4,850 |
705 |
↓50 |
|
Guangzhou |
Angang |
4,190 |
609 |
↓90 |
|||
|
Boxing |
Angang |
4,900 |
712 |
↓30 |
|||
|
Average |
- |
4,646 |
675 |
↓57 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
5,290 |
769 |
↓40 |
|
Guangzhou |
Guofeng |
4,410 |
641 |
↓90 |
|||
|
Boxing |
Fengming |
4,650 |
676 |
↓30 |
|||
|
Average |
- |
4,784 |
695 |
↓53 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.88 RMB