During the week ending March 28, average prices in the Chinese domestic hot dip galvanized (HDG) market have edged down very slightly, 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, traders in the domestic HDG market have mentioned that transaction activity is slacker compared to the same time last year, with demand not improving as much as had been expected. Market players are mostly maintaining a wait-and-see stance, though they anticipate better demand for HDG from downstream users. Meanwhile, ferrous metal futures prices have declined slightly, exerting negative pressure on HDG prices in the spot market. It is expected that HDG prices in the Chinese domestic market will move sideways 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 |
4,880 |
725 |
0 |
|
Guangzhou |
Angang |
4,650 |
691 |
↓10 |
|||
|
Boxing |
Angang |
4,810 |
715 |
0 |
|||
|
Average |
- |
4,780 |
710 |
↓3 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
5,350 |
795 |
0 |
|
Guangzhou |
Guofeng |
4,870 |
724 |
↓10 |
|||
|
Boxing |
Fengming |
4,660 |
692 |
0 |
|||
|
Average |
- |
4,960 |
737 |
↓3 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.73 RMB