During the week ending May 24, average prices in the Chinese domestic hot dip galvanized (HDG) market have indicated slight upticks for thick specifications and slight downticks for thin specifications, 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, ferrous metal futures prices in China have edged down, exerting a negative impact on the local HDG market. Lately, Chinese steelmakers, including Shougang Iron and Steel Co. (Shougang) and Bayi Iron and Steel Group (Bayi Steel), have issued their ex-works prices for June shipment, keeping their HDG prices stable or raising their HDG prices by RMB 50/mt ($7.8/mt), providing some support for HDG prices in the local market from the cost side. Currently, demand is good, though market participants expect that demand will slacken due to hot weather conditions and the rainy season. It is thought that HDG prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Change |
|
Thick galvanized coils |
1.0 mm x 1,250 mm x C |
SGCC |
Shanghai |
Angang |
5.430 |
850 |
↓30 |
|
Guangzhou |
Angang |
5.600 |
876 |
↑60 |
|||
|
Boxing |
Angang |
5.200 |
814 |
0 |
|||
|
Average |
- |
5.410 |
847 |
↑10 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4.870 |
762 |
↓10 |
|
Guangzhou |
Guofeng |
5.300 |
829 |
↓10 |
|||
|
Boxing |
Fengming |
4.950 |
775 |
0 |
|||
|
Average |
- |
5.040 |
789 |
↓7 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.39 RMB