During the week ending May 9, average prices in the Chinese domestic hot dip galvanized (HDG) market have declined by a slight margin, 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, inventories in the HDG market has remained at relatively low levels, providing some support for HDG prices. However, the sharp downward movement of the Chinese financial markets after the Labor Day holiday (May 1-4) has negatively affected the HDG market, causing prices to soften. Suppliers are willing to sell at lower prices to avoid potential risks. It is expected that HDG prices in the Chinese domestic market will fluctuate within a limited range 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 |
4,900 |
718 |
0 |
|
Guangzhou |
Angang |
4,880 |
716 |
10 |
|||
|
Boxing |
Angang |
4,850 |
711 |
↓50 |
|||
|
Average |
- |
4,877 |
715 |
↓13 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
5,370 |
787 |
0 |
|
Guangzhou |
Guofeng |
5,100 |
748 |
10 |
|||
|
Boxing |
Fengming |
4,700 |
689 |
↓50 |
|||
|
Average |
- |
5,057 |
741 |
↓13 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.82 RMB