Local Chinese HDG prices soften slightly

Thursday, 08 August 2019 14:56:29 (GMT+3)   |   Shanghai
       

During the week ending August 8, average prices in the Chinese domestic hot dip galvanized (HDG) market have declined 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, HRC futures prices at Shanghai Futures Exchange (SHFE) have declined, domestic demand for HDG has failed to improve, while iron ore prices have decreased, with all these factors weakening the support for domestic HDG prices in China. According to the latest weather forecast, Typhoon Lekima will impact the Yangtze River Delta area this weekend and negatively affect the HDG market in the region. It is expected that HDG prices in the Chinese domestic market will soften further 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

4,860

694

↓20

Guangzhou

Angang

4,590

656

↓30

Boxing

Angang

4,850

693

↓10

Average

-

4,767

681

↓20

Thin galvanized coils

0.5 mm x 1,000 mm x C

SGCC

Shanghai

Tangsteel

5,330

761

↓20

Guangzhou

Guofeng

4,760

680

↓30

Boxing

Fengming

4,670

667

↓10

Average

-

4,920

703

↓20

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

$1 = RMB 7.00


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