During the week ending April 19, average prices in the Chinese domestic hot dip galvanized (HDG) market have increased very slightly, while transaction activity in the market has been at medium levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, since HDG sales prices in the spot market have remained lower than producers' ex-works prices, traders have been unwilling to sell at lower prices. Meanwhile, traders have indicated that demand from downstream users has not yet reached good levels. At the same time, traders are under stronger pressure from tight liquidity this year, which has had a negative influence on prices. On the other hand, the cut in the reserve requirement ratio announced by China’s central bank is expected to positively impact sentiment in the HDG market. 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 |
5,460 |
871 |
↑10 |
Guangzhou |
Angang |
5,570 |
888 |
0 |
|||
Boxing |
Angang |
5,200 |
829 |
0 |
|||
Average |
- |
5,410 |
863 |
↑3 |
|||
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,930 |
786 |
↑10 |
Guangzhou |
Guofeng |
5,270 |
841 |
0 |
|||
Boxing |
Fengming |
4,950 |
789 |
0 |
|||
Average |
- |
5,050 |
805 |
↑3 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.27 RMB