During the week ending January 24, average prices in the Chinese domestic hot dip galvanized (HDG) market have increased 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 rebounded, exerting a positive impact on HDG prices in the domestic spot market. Meanwhile, inventories of HDG in the spot market have decreased, bolstering HDG prices to some extent. With the approach of the Chinese New Year holiday (February 2-10), demand for HDG will slacken. It is expected that HDG prices in the Chinese domestic market will mostly remain stable 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 |
4,710 |
694 |
↑10 |
|
Guangzhou |
Angang |
4,340 |
639 |
↑60 |
|||
|
Boxing |
Angang |
4,880 |
719 |
0 |
|||
|
Average |
- |
4,643 |
684 |
↑23 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
5,150 |
758 |
↑10 |
|
Guangzhou |
Guofeng |
4,560 |
672 |
↑60 |
|||
|
Boxing |
Fengming |
4,630 |
682 |
0 |
|||
|
Average |
- |
4,780 |
704 |
↑23 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.79 RMB