During the week ending June 29, the average prices of Chinese domestic hot dip galvanized (HDG) have again indicated a rising trend, while transaction activity in the market has been at medium levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, ferrous metal futures prices in China have continued their upward movement, exerting a positive impact on the price trend in the domestic HDG market. Currently, downstream users have been more willing to conclude HDG purchases, though the rainy season still has a negative influence on demand. With HDG supplies from northern China arriving in the market, inventory levels of HDG in the spot market will increase, which will weaken support for HDG prices. It is thought that HDG prices in the Chinese domestic market will move sideways 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 |
695 |
↑50 |
|
Guangzhou |
Angang |
5,200 |
767 |
↑90 |
|||
|
Boxing |
Angang |
4,630 |
683 |
↑210 |
|||
|
Average |
- |
4,847 |
715 |
↑117 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,260 |
628 |
↑80 |
|
Guangzhou |
Guofeng |
4,600 |
678 |
↑100 |
|||
|
Boxing |
Fengming |
4,350 |
642 |
↑240 |
|||
|
Average |
- |
4,403 |
649 |
↑140 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.78 RMB