During the week ending November 19, Chinese domestic hot dip galvanized (HDG) prices have indicated a downward trend, while overall transaction activity in the market has been at low levels. Average HDG prices in the local Chinese market are presented in the table below.
During the given week, amid low transaction activities, HDG prices have moved on a downward trend in the Chinese domestic market, especially in eastern China, where the weather has been rainy for a long time now, contributing to the slackness of demand. Meanwhile, the declining trend of raw material prices has also exerted a negative impact on HDG prices. Although the end of the month is approaching, traders' sales activities are still slacker than expected, and so they will likely try to speed up their sales by lowering their prices further. It is thought that HDG prices in the Chinese domestic market will likely see a slight downtrend in the coming week.
Product name | Spec. | Category | 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 | 2,490 | 390 | ↓60 |
Guangzhou | Angang | 3,100 | 486 | 0 | |||
Boxing | Angang | 3,910 | 613 | 0 | |||
Average | - | 3,167 | 496 | ↓20 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 2,540 | 398 | ↓120 |
Guangzhou | Ma steel | 3,400 | 533 | ↓200 | |||
Boxing | Hengtong | 2,800 | 439 | 0 | |||
Average | - | 2,913 | 457 | ↓107 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.38 RMB