During the week ending March 23, average Chinese domestic hot dip galvanized (HDG) prices have indicated significant declines, while overall transaction activity in the market has slackened and is now at low-to-medium levels. Average HDG prices in the local Chinese market are presented in the following table.
During the given week, following the significant declines seen in Chinese cold rolled coil (CRC) and cold rolled sheet (CRS) prices, domestic hot dip galvanized (HDG) prices have also softened significantly. Furthermore, the decreases in ferrous metal futures prices in China have exerted a negative influence on market sentiment and on HDG prices, resulting in slacker transaction activities compared to the previous week. As for the coming week, liquidity is expected to be tighter approaching the end of the month, while it is expected that HDG prices in the Chinese domestic market will likely move down further 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 | 5,180 | 752 | ↓150 |
Guangzhou | Angang | 4,910 | 713 | ↓230 | |||
Boxing | Angang | 4,810 | 698 | ↓150 | |||
Average | - | 4,967 | 721 | ↓177 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Tangsteel | 4,580 | 665 | ↓90 |
Guangzhou | Guofeng | 4,780 | 694 | ↓200 | |||
Boxing | Fengming | 4,530 | 657 | ↓130 | |||
Average | - | 4,630 | 672 | ↓140 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.89 RMB