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