During the week ending November 17, average Chinese domestic hot dip galvanized (HDG) prices have continued their rising trend, while overall transaction activity in the market has been at low-to-medium levels. Average HDG prices in the local Chinese market are presented in the table below.
During the week in question, domestic HDG prices have continued to move up with the support of rises in raw material prices. However, given the higher price levels, downstream users have been more cautious about concluding purchases, resulting in low-to-medium transaction activity. Starting from November 14, ferrous metal futures prices have indicated downward corrections, exerting a negative impact on sentiment in the HDG market. It is thought that HDG prices in the Chinese domestic market will likely move sideways or edge down slightly in the coming week as traders may be willing to sell following the price increases already recorded in the market.
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 | 4,540 | 661 | ↑120 |
Guangzhou | Angang | 4,470 | 651 | ↑80 | |||
Boxing | Angang | 4,050 | 590 | ↑50 | |||
Average | - | 4,353 | 634 | ↑83 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Tangsteel | 4,320 | 629 | ↑80 |
Guangzhou | Guofeng | 4,300 | 626 | ↑90 | |||
Boxing | Fengming | 3,960 | 576 | ↑10 | |||
Average | - | 4,193 | 610 | ↑60 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.87 RMB