During the week ending December 5, average prices in the Chinese domestic hot dip galvanized (HDG) market have edged up in Shanghai and Guangzhou, 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.
|
Product name |
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
Thick HDG |
1.0 x 1,250 |
SGCC |
4,703 |
+26 |
667 |
+2 |
|
Thin HDG |
0.5 x 1,000 |
SGCC |
4,943 |
+26 |
701 |
+1 |
All the above prices include 13 percent VAT.
Recently, inventory levels in the local HDG market have risen slightly due to good circulation of supplies, while traders mentioned that tight supply for some specifications have contributed to some price rises. Demand for HDG has improved as traders said some buyers have started to build up stocks.
HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,619/mt ($513.2/mt) on December 5, up RMB 64/mt ($9.1/mt) or 1.8 percent from November 28, signaling some improvement in sentiment in the steel futures market.
$1 = RMB 7.052