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