Local Chinese HDG market moves sideways

Thursday, 08 February 2018 14:29:01 (GMT+3)   |   Shanghai
       

During the week ending February 8, average prices in the Chinese domestic hot dip galvanized (HDG) market have moved on a stable trend, 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.

During the given week, as the Chinese New Year holiday is drawing closer, many market participants have started to exit the market, resulting in slack activity. Only a few traders are building up inventories this week, while most market participants will be on holiday by the end of this week. It is thought that HDG prices in the Chinese domestic market will move on a stable trend 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

5,080

804

0

Guangzhou

Angang

5,580

883

0

Boxing

Angang

5,280

835

0

Average

-

5,313

841

0

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Tangsteel

4,830

764

0

Guangzhou

Guofeng

5,180

820

0

Boxing

Fengming

5,030

796

0

Average

-

5,013

793

0

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

$1 = 6.32


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