During the week ending May 16, average prices in the Chinese domestic hot dip galvanized (HDG) market have declined by a small margin, 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, some domestic steelmakers have cut their ex-works prices for HDG, exerting downward pressure on HDG prices in the spot market. Meanwhile, traders are pessimistic as regards the future prospects for the HDG market as demand is expected to slacken in the near future. However, support from the high levels of iron ore prices will likely bolster HDG prices to some extent. It is expected that HDG prices in the Chinese domestic market will edge 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 |
4,880 |
709 |
↓20 |
|
Guangzhou |
Angang |
4,850 |
705 |
↓30 |
|||
|
Boxing |
Angang |
4,840 |
703 |
↓10 |
|||
|
Average |
- |
4,857 |
706 |
↓20 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
5,350 |
778 |
↓20 |
|
Guangzhou |
Guofeng |
5,070 |
737 |
↓30 |
|||
|
Boxing |
Fengming |
4,690 |
682 |
↓10 |
|||
|
Average |
- |
5,037 |
732 |
↓20 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.88 RMB