During the week ending September 26, 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 levels. Average HDG prices in the local Chinese market are presented in the following table.
|
Product name |
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
Thick HDG |
1.0 x 1,250 |
SGCC |
4,666 |
-16 |
660 |
-2 |
|
Thin HDG |
0.5 x 1,000 |
SGCC |
4,833 |
-3 |
683 |
-1 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
In the given week, sentiments in the Chinese steel market have improved to some extent due to the production restriction measures being implemented. HRC futures prices at Shanghai Futures Exchange (SHFE) increased from RMB 3,428/mt ($485/mt) on September 19 to RMB 3,460/mt ($489/mt) on September 26, up by 0.9 percent.
During the given week, demand for HDG in China has not been as good as what market players expected for the traditional peak season, while buyers have only concluded purchases in line with their needs. Meanwhile, iron ore prices have declined in the given week, weakening the support for local HDG prices.
$1=RMB 7.0729