During the week ending May 30, average prices in the Chinese domestic hot dip galvanized (HDG) market have moved down 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, HRC futures prices at Shanghai Futures Exchange (SHFE) have decreased, negatively influencing the local HDG market. Sentiment in the market is pessimistic. At the same time, there have been plenty of HDG supplies arriving in the market, increasing pressure on the market from inventories. On the other hand, rising iron ore prices provide support for HDG prices. Traders have been unwilling to order supplies for shipment in June. It is expected that HDG prices in the Chinese domestic market will soften by a small margin 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 |
4,950 |
716 |
0 |
|
Guangzhou |
Angang |
4,820 |
698 |
↓30 |
|||
|
Boxing |
Angang |
4,800 |
695 |
↓60 |
|||
|
Average |
- |
4,857 |
703 |
↓30 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
5,420 |
784 |
0 |
|
Guangzhou |
Guofeng |
5,040 |
729 |
↓30 |
|||
|
Boxing |
Fengming |
4,650 |
673 |
↓60 |
|||
|
Average |
- |
5,037 |
729 |
↓30 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.91 RMB