During the week ending November 23, average prices in the Chinese domestic hot dip galvanized (HDG) market have continued to rise slightly, 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 started to move back up in the past four trading days, exerting a positive impact on prices in the local HDG market. Buyers have been showing greater willingness to purchase HDG, resulting in improved transaction activity in the market. Inventory levels in the HDG market are relatively low, which will provide support for HDG prices. It is thought that HDG prices in the Chinese domestic market will likely 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 |
5,100 |
775 |
↑20 |
|
Guangzhou |
Angang |
5,350 |
813 |
↑50 |
|||
|
Boxing |
Angang |
5,160 |
784 |
↑40 |
|||
|
Average |
- |
5,203 |
791 |
↑37 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,940 |
751 |
↑30 |
|
Guangzhou |
Guofeng |
5,150 |
783 |
↑50 |
|||
|
Boxing |
Fengming |
4,910 |
746 |
↑40 |
|||
|
Average |
- |
5,000 |
760 |
↑40 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.58 RMB