Local Chinese HDG market moves down slightly

Thursday, 11 July 2019 14:14:26 (GMT+3)   |   Shanghai
       

During the week ending July 11, average prices in the Chinese domestic hot dip galvanized (HDG) market have edged 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, domestic steelmakers have not received sufficient orders from downstream users and traders. Traders have indicated their unwillingness to purchase HDG to increase inventory levels as they are pessimistic as regards the future prospects for the HDG market. It is expected that HDG prices in the Chinese domestic market will soften further in the coming week due to slack demand amid the current hot weather conditions.

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

710

↓40

Guangzhou

Angang

4,640

675

↓60

Boxing

Angang

4,840

705

0

Average

-

4,787

697

↓33

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Tangsteel

5,350

779

↓40

Guangzhou

Guofeng

4,810

700

↓60

Boxing

Fengming

4,660

678

0

Average

-

4,940

719

↓33

 

13 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = 6.87 RMB


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