During the week ending December 10, Chinese domestic hot dip galvanized (HDG) prices have indicated a stable 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, domestic cold rolled sheet (CRS) prices have indicated a slight uptrend, providing a certain degree of support for HDG prices, contributing to their stable movement. Approaching the end of the year, most HDG producers are experiencing tight liquidity, which will likely push them to lower their sales prices in order to bring in cash. Meanwhile, since demand has remained slack, market participants are unwilling to build up their inventories. It is thought that HDG prices in the Chinese domestic market will either move on a stable trend or on 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 | 387 | 0 |
Guangzhou | Angang | 3,100 | 481 | 0 | |||
Boxing | Angang | 3,910 | 607 | 0 | |||
Average | - | 3,167 | 492 | 0 | |||
Thin galvanized coils | 0.5 mm x 1,000 mm x C | SGCC | Shanghai | Quantong | 2,540 | 394 | 0 |
Guangzhou | Ma steel | 3,400 | 528 | 0 | |||
Boxing | Hengtong | 2,800 | 435 | 0 | |||
Average | - | 2,913 | 452 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = 6.44 RMB