Local Chinese HDG prices soften very slightly

Thursday, 19 April 2018 12:28:28 (GMT+3)   |   Shanghai
       

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
(March 29) (RMB/mt)

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


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