During the week ending November 2, average prices in the Chinese domestic hot dip galvanized (HDG) market have been mostly stable, with some very slightly increases seen for thick specifications, 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, there have been production cuts in Shandong Province, exerting a negative impact on HDG sales amid slack demand from downstream users, while lower supply has provided some support for HDG prices at the same time. HDG inventories in the spot market have been lower than in the previous week. 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 |
5,060 |
767 |
0 |
|
Guangzhou |
Angang |
5,230 |
792 |
↓20 |
|||
|
Boxing |
Angang |
5,100 |
773 |
↓30 |
|||
|
Average |
- |
5,130 |
777 |
↓17 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,880 |
739 |
↓10 |
|
Guangzhou |
Guofeng |
5,050 |
765 |
↓20 |
|||
|
Boxing |
Fengming |
4,850 |
735 |
↑30 |
|||
|
Average |
- |
4,927 |
746 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.60 RMB