Average prices in the Chinese domestic hot dip galvanized (HDG) market have increased compared to the pre-holiday levels, 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.
While domestic HDG prices are higher than pre-holiday levels, prices have been fluctuating in the past four trading days amid the diverse expectations of market participants. Following the declines seen in hot rolled coil (HRC) and rebar futures prices on the Shanghai Futures Exchange (SHFE) in the previous days, on October 12 HRC and rebar futures prices at the SHFE indicated large rises, exerting a positive impact on HDG prices in the spot market. Meanwhile, during the given week Chinese major steelmaker Baosteel has issued its ex-works prices for November delivery, keeping its HDG prices unchanged compared to October, while its HDG ex-works prices are currently at high levels, providing a certain degree of support for HDG prices. 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 |
5,050 |
766 |
↑30 |
|
Guangzhou |
Angang |
5,250 |
797 |
↑50 |
|||
|
Boxing |
Angang |
5,070 |
769 |
↑50 |
|||
|
Average |
- |
5,123 |
777 |
↑43 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,850 |
736 |
↑30 |
|
Guangzhou |
Guofeng |
5,020 |
762 |
↑20 |
|||
|
Boxing |
Fengming |
4,820 |
731 |
↑50 |
|||
|
Average |
- |
4,896 |
743 |
↑33 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.59 RMB