During the week ending August 10, the average prices in the Chinese domestic hot dip galvanized (HDG) market have continued to move up, while transaction activity in the market has been at medium levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, ferrous metal futures prices in China have increased, providing support for HDG prices in the domestic market. After Jiangsu-based Shagang Group increased its ex-works prices for hot rolled coil (HRC) by RMB 380/mt ($56/mt) to RMB 4,030/mt ($593/mt) in early August, Baosteel is expected to issue its new prices, with most market participants expecting it to raise its ex-works prices for HDG. Following recent increases, it is thought that HDG prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thick galvanized coils |
1.0 mm x 1,250 mm x C |
SGCC |
Shanghai |
Angang |
5,120 |
769 |
↑170 |
|
Guangzhou |
Angang |
5,590 |
839 |
↑140 |
|||
|
Boxing |
Angang |
5,050 |
758 |
↑130 |
|||
|
Average |
- |
5,253 |
789 |
↑147 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,890 |
734 |
↑170 |
|
Guangzhou |
Guofeng |
5,000 |
751 |
↑140 |
|||
|
Boxing |
Fengming |
4,800 |
721 |
↑130 |
|||
|
Average |
- |
4,897 |
735 |
↑147 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.66 RMB