During the week ending March 8, average prices in the Chinese domestic hot dip galvanized (HDG) market have indicated a slight softening, while transaction activity in the market has been at low 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 moved down significantly, exerting a negative impact on domestic HDG spot prices. Meanwhile, following the rapid price rises in the previous week, downstream users have been unwilling to accept traders' higher prices, causing them to make small downward adjustments to their prices this week. On the other hand, demand is expected to improve 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 |
5,150 |
812 |
↓20 |
|
Guangzhou |
Angang |
5,500 |
868 |
↓90 |
|||
|
Boxing |
Angang |
5,380 |
849 |
↑30 |
|||
|
Average |
- |
5,343 |
843 |
↓27 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,920 |
776 |
↓20 |
|
Guangzhou |
Guofeng |
5,200 |
820 |
↓50 |
|||
|
Boxing |
Fengming |
5,060 |
798 |
↓20 |
|||
|
Average |
- |
5,060 |
798 |
↓30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.34 RMB