Local Chinese HDG prices rise slightly

Thursday, 10 January 2019 14:15:18 (GMT+3)   |   Shanghai
       

During the week ending January 10, average prices in the Chinese domestic hot dip galvanized (HDG) market have edged up 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, following the New Year holiday steel futures prices have increased at Shanghai Futures Exchange (SHFE). In addition, major domestic steelmaker Baosteel has issued its ex-works prices for February and March delivery, keeping its HDG prices stable for February, while raising them by RMB 50/mt ($7.3/mt) for March, which will bolster HDG prices in the domestic market. Moreover, China's central bank announced on January 4 that it will cut the reserve requirement for most banks by 100 basis points, with this development providing support for prices of HDG. Meanwhile, inventories in the HDG market are at relatively low levels, which will also bolster HDG prices. With the Chinese New Year holiday (February 2-10) approaching, downstream users will start to go on holiday as of January 15, while HDG producers will likely halt production from January 22. 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

4,810

708

↑10

Guangzhou

Angang

4,220

622

↑40

Boxing

Angang

4,880

719

↓10

Average

-

4,636

683

↑13

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Tangsteel

5,250

773

↑10

Guangzhou

Guofeng

4,440

654

↑40

Boxing

Fengming

4,630

682

↓10

Average

-

4,773

703

↑13


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

$1 = 6.79 RMB


Similar articles

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

Chinese HDG export prices fall slightly, but local market improves

21 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab