During the week ending August 17, the average prices in the Chinese domestic hot dip galvanized (HDG) market have edged up further, 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, major domestic steelmakers Wuhan Iron and Steel Co. (WISCO) and Hebei Iron and Steel Group have issued their ex-works prices for September delivery, raising their HDG prices by RMB 400/mt ($60/mt) and RMB 200/mt ($30/mt), respectively. Although domestic prices of other flat steel products, including hot rolled coil (HRC) and cold rolled coil (CRC), have softened, domestic HDG prices have risen slightly due to support from producers’ increased ex-works prices, while downstream users have been more cautious about concluding purchases of HDG. It is thought that HDG prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thick galvanized coils |
1.0 mm x 1,250 mm x C |
SGCC |
Shanghai |
Angang |
5,120 |
766 |
0 |
|
Guangzhou |
Angang |
5,620 |
841 |
↑30 |
|||
|
Boxing |
Angang |
5,060 |
757 |
↑10 |
|||
|
Average |
- |
5,267 |
788 |
↑14 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,890 |
732 |
0 |
|
Guangzhou |
Guofeng |
5,100 |
763 |
↑100 |
|||
|
Boxing |
Fengming |
4,810 |
720 |
↑10 |
|||
|
Average |
- |
4,933 |
738 |
↑36 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.68 RMB