During the week ending February 28, average prices in the Chinese domestic hot dip galvanized (HDG) market have risen 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, HDG prices in the Chinese domestic market have edged upwards as better demand from downstream users has provided support for the HDG market. Meanwhile, inventories in the HDG market are at relatively low levels, while HRC futures prices at Shanghai Futures Exchange (SHFE) have increased, with these factors also exerting a positive impact on HDG prices. It is expected that HDG prices in the Chinese domestic market will continue to move upwards 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 |
4,840 |
723 |
↑50 |
|
Guangzhou |
Angang |
4,540 |
679 |
↑70 |
|||
|
Boxing |
Angang |
4,750 |
710 |
↓80 |
|||
|
Average |
- |
4,710 |
704 |
↑13 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
5,280 |
789 |
↑50 |
|
Guangzhou |
Guofeng |
4,760 |
712 |
↑70 |
|||
|
Boxing |
Fengming |
4,560 |
682 |
↓70 |
|||
|
Average |
- |
4,867 |
727 |
↑17 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.69 RMB