During the week ending June 13, average prices in the Chinese domestic hot dip galvanized (HDG) market have declined 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 traders in China have indicated that their sales have been disappointing, resulting in increases in their inventories. Meanwhile, HDG prices are RMB 400/mt higher than CRC prices, which means that further space exists for HDG prices to decline. On the other hand, iron ore prices have been increasing, which will provide support for HDG prices from the cost side. It is expected that HDG prices in the Chinese domestic market will move down slightly 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 |
4,910 |
710 |
↓10 |
|
Guangzhou |
Angang |
4,710 |
681 |
↓70 |
|||
|
Boxing |
Angang |
4,780 |
691 |
0 |
|||
|
Average |
- |
4,800 |
694 |
↓27 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
5,380 |
777 |
↓10 |
|
Guangzhou |
Guofeng |
4,880 |
705 |
↓70 |
|||
|
Boxing |
Fengming |
4,560 |
659 |
0 |
|||
|
Average |
- |
4,940 |
714 |
↓27 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.92 RMB