As of March 15, average prices in the Chinese domestic hot dip galvanized (HDG) market have declined on week-on-week basis, while transaction activity in the market has been at low levels. Average HDG prices in the local Chinese market are presented in the table below.
Following previous significant decreases seen in ferrous metal futures prices in China, futures prices have moved back up in the past two trading days. Accordingly, in the past week HDG prices in the domestic spot market first moved down but at the end of the week have started to edge back up. At the same time, demand from downstream users has been better compared to the previous week, which will provide some support for HDG prices in the coming period. It is thought that HDG prices in the Chinese domestic market will likely move sideways in the week ahead.
| 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 | 5,080 | 804 | ↓70 |
| Guangzhou | Angang | 5,400 | 854 | ↓100 | |||
| Boxing | Angang | 5,300 | 839 | ↓80 | |||
| Average | - | 5,260 | 832 | ↓83 | |||
| Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Tangsteel | 4,840 | 766 | ↓80 |
| Guangzhou | Guofeng | 5,150 | 815 | ↓50 | |||
| Boxing | Fengming | 4,990 | 790 | ↓70 | |||
| Average | - | 4,993 | 790 | ↓67 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.32 RMB