Local Chinese HDG prices indicate further slight rises

Thursday, 16 November 2017 15:28:01 (GMT+3)   |   Shanghai
       

During the week ending November 16, average prices in the Chinese domestic hot dip galvanized (HDG) market have continued to rise slightly, 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, HDG prices in the Chinese domestic market gained some support from winter production cuts in northern China. Meanwhile, major Chinese steelmaker Ansteel has issued its ex-works prices for December delivery, increasing its HDG prices by RMB 100/mt ($15/mt), providing support for HDG spot prices. However, in the past two trading days, HRC and rebar futures prices at Shanghai Futures Exchange (SHFE) have shifted from upward to downward movement, which will likely exert some negative pressure on HDG prices in the coming period. 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

5,080

766

0

Guangzhou

Angang

5,300

799

↑50

Boxing

Angang

5,120

772

↑20

Average

-

5,166

779

↑23

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Tangsteel

4,910

741

↑10

Guangzhou

Guofeng

5,100

769

0

Boxing

Fengming

4,870

735

↑20

Average

-

4,960

748

↑10

17 percent VAT is included in all prices and all prices are ex-warehouse.

$1 = 6.63 RMB


Similar articles

US sheet prices tick up modestly ahead of Easter weekend

28 Mar | Scrap & Raw Materials

US HDG imports up 10.6 percent in February

28 Mar | Steel News

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

Chinese HDG export prices mainly stable, with negative bias in some offers

28 Mar | Flats and Slab

Ex-India HDG and CRC prices edge down, trade remains in doldrums

28 Mar | Flats and Slab

HDG consumption in Mexico up 12.0 percent in January

27 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

US flats source believe HRC prices are “at or near the bottom”

22 Mar | Flats and Slab

Romania’s sole flats mill cuts HRC prices, raises HDG and PPGI prices

22 Mar | Flats and Slab

Ex-India HDG prices stable due to silent trade amid multiple cheaper alternatives for buyers

21 Mar | Flats and Slab