During the week ending February 1, average prices in the Chinese domestic hot dip galvanized (HDG) market have softened slightly, 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, HDG prices in the domestic spot market are still lower than steelmakers’ ex-works prices, causing traders to incur losses. However, costs will provide support for HDG prices in the spot market even though demand is slack approaching the Chinese New Year holiday (February 15-21). It is thought that HDG prices in the Chinese domestic market will likely move on a stable trend 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 |
5,080 |
805 |
↓50 |
|
Guangzhou |
Angang |
5,580 |
884 |
↑30 |
||||
Boxing |
Angang |
5,280 |
837 |
0 |
||||
Average |
- |
5,313 |
842 |
↓7 |
||||
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,830 |
765 |
↓40 |
|
Guangzhou |
Guofeng |
5,180 |
821 |
0 |
||||
Boxing |
Fengming |
5,030 |
797 |
0 |
||||
Average |
- |
5,013 |
794 |
↓13 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.31 RMB