During the week ending August 9, average prices in the Chinese domestic hot dip galvanized (HDG) market have been nearly stable, 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, ferrous metal futures prices have moved up first while edged down in recent two trading days, weakening the support to HDG market. Meanwhile, the demand has been slack against the background of high temperature, traders mostly chose to speed up sales to lower inventory level. However, the demand will likely see improvement in the future when the weather cools down. It is expected 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 |
5,400 |
791 |
↑20 |
|
Guangzhou |
Angang |
5,700 |
835 |
↓10 |
|||
|
Boxing |
Angang |
5,260 |
770 |
0 |
|||
|
Average |
- |
5,453 |
798 |
↑3 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
5,830 |
854 |
↑20 |
|
Guangzhou |
Guofeng |
5,440 |
796 |
0 |
|||
|
Boxing |
Fengming |
5,070 |
742 |
0 |
|||
|
Average |
- |
5,447 |
798 |
↑7 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.83 RMB