During the week ending May 10, average prices in the Chinese domestic hot dip galvanized (HDG) market have decreased, 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 moved on a downward trend, which exerted a negative impact on HDG prices in the spot market. Meanwhile, downstream users have been maintaining a wait-and-see stance as regards new purchases of HDG. In addition, HDG inventories are at relatively low levels, which provides some support for HDG prices. On May 10, major Chinese steelmaker Baosteel issued its ex-works prices for June delivery, keeping its HDG prices stable. At the same time, ferrous metal futures prices have indicated slight rises on May 10 following previous declines, which may positively influence the HDG market. 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) |
Change |
|
|
Thick galvanized coils |
1.0 mm x 1,250 mm x C |
SGCC |
Shanghai |
Angang |
5,460 |
860 |
↓20 |
|
|
Guangzhou |
Angang |
5,540 |
872 |
↓50 |
||||
|
Boxing |
Angang |
5,200 |
819 |
↓80 |
||||
|
Average |
- |
5,400 |
850 |
↓50 |
||||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,880 |
769 |
↓10 |
|
|
Guangzhou |
Guofeng |
5,310 |
836 |
↓20 |
||||
|
Boxing |
Fengming |
4,950 |
780 |
↓80 |
||||
|
Average |
- |
5,046 |
795 |
↓37 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.35 RMB