During the week ending October 26, the average prices in the Chinese domestic hot dip galvanized (HDG) market have moved upwards, 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, there have been some shortages of HDG supply in the Chinese domestic market, which have some provided support for HDG prices in the spot market. Meanwhile, domestic semi-finished steel prices have increased, also bolstering HDG prices from the cost side. Moreover, some steelmakers in Hubei Province have halted their HDG production as they have been finding it difficult to obtain sufficient supplies of hot rolled coil (HRC) feedstock, and this is expected to result in a shortfall of 20,000 mt in HDG output up to the end of the current month. It is thought that HDG prices in the Chinese domestic market will likely edge up or move sideways in the coming week.
|
Product name |
Spec. |
Quality |
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 |
5,060 |
763 |
↑10 |
|
Guangzhou |
Angang |
5,250 |
792 |
0 |
|||
|
Boxing |
Angang |
5,070 |
765 |
↑30 |
|||
|
Average |
- |
5,126 |
773 |
↑13 |
|||
|
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Tangsteel |
4,890 |
738 |
↑10 |
|
Guangzhou |
Guofeng |
5,070 |
765 |
↑50 |
|||
|
Boxing |
Fengming |
4,820 |
727 |
↑30 |
|||
|
Average |
- |
4,926 |
743 |
↑30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.63 RMB