During the week ending April 23, Chinese domestic hot dip galvanized (HDG) prices have indicated an overall downtrend, while transaction activity has remained at low levels.
During the given week, since demand for HDG from downstream users had remained slack, some traders' transaction activities have been affected, exerting a negative impact on HDG prices. Meanwhile, low-priced products from northern China have arrived at the market, also affecting the mainstream offer prices. In addition, major domestic producer Baosteel has cut its HDG prices by RMB 80/mt ($13/mt) for May delivery, which will influence sentiment among market participants. With the end-of-month approaching, local HDG traders mostly come under pressure from tight liquidity. It is expected that HDG prices in the Chinese domestic market will continue their downtrend in the coming week.
Product Name |
Spec. |
Category |
City |
Steel Plant/Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
Thick galvanized coils |
1.0 mm x 1,250 mm x C |
SGCC |
Shanghai |
Angang |
3,540 |
571 |
↓30 |
Guangzhou |
Angang |
4,050 |
653 |
0 |
|||
Boxing |
Angang |
4,010 |
647 |
0 |
|||
Average |
- |
3,867 |
624 |
↓10 |
|||
Thin galvanized coils |
0.5 mm x 1,000 mm x C |
SGCC |
Shanghai |
Quantong |
3,300 |
532 |
↓10 |
Guangzhou |
Ma steel |
3,600 |
581 |
0 |
|||
Boxing |
Hengtong |
3,320 |
535 |
↓30 |
|||
Average |
- |
3,407 |
549 |
↓13 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6,20