During the week ending January 3, average prices in the Chinese domestic hot dip galvanized (HDG) market have softened 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, demand from downstream users for HDG resources has been slack due to the New Year holiday (December 29 2018-January 1 2019). Meanwhile, HRC futures prices at Shanghai Futures Exchange (SHFE) have moved on an overall downward trend, negatively affecting the HDG market. Domestic HDG producers have sacrificed some of their profit margins in order to give more discounts to traders and increase sales. It is expected that HDG prices in the Chinese domestic market will 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 |
4,800 |
699 |
↓30 |
|
Guangzhou |
Angang |
4,180 |
608 |
↓20 |
|||
|
Boxing |
Angang |
4,890 |
712 |
0 |
|||
|
Average |
- |
4,623 |
673 |
↓17 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
5,240 |
763 |
↓30 |
|
Guangzhou |
Guofeng |
4,440 |
646 |
↓20 |
|||
|
Boxing |
Fengming |
4,640 |
675 |
0 |
|||
|
Average |
- |
4,760 |
693 |
↓17 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.87 RMB