During the week ending July 13, the average prices in the Chinese domestic hot dip galvanized (HDG) market have continued their rising trend, 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, domestic HDG prices have risen with support from the rising trends seen in raw materials prices and from increases in ferrous metals futures prices. However, demand from downstream users has slackened due to the hot weather conditions currently prevailing in China. Meanwhile, major domestic steelmaker Baosteel has issued its prices for August shipment, increasing its HDG prices by RMB 100-150/mt, which will provide support for HDG prices in the spot market. It is thought that HDG prices in the Chinese domestic market will likely increase further 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 |
4,800 |
708 |
↑70 |
|
Guangzhou |
Angang |
5,350 |
789 |
↑100 |
|||
|
Boxing |
Angang |
4,710 |
695 |
↑30 |
|||
|
Average |
- |
4,953 |
731 |
↑67 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,470 |
659 |
↑80 |
|
Guangzhou |
Guofeng |
4,800 |
708 |
0 |
|||
|
Boxing |
Fengming |
4,400 |
649 |
0 |
|||
|
Average |
- |
4,557 |
672 |
↑27 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.78 RMB