November 22, 2008

Chinese HDG price remain firm

It is reported that Chinese domestic hot dipped galvanized steel price is still stable.

According to MySteel, on Shanghai market price for 1.0mm HDG by Anshan steel goes at CNY 7580 per tonne, 0.5mm HDG by private producer remain stable at CNY 7800 per tonne. There would be no room for further increase if it could not exceed CNY 7600 per tonne.

Export Quotation for 1.0mm HDG Z120 remained at USD 1140 per tonne to USD 1150 per tonne with transaction price at USD 1120 per tonne to USD 1130 per tonne FOB. In comparison with tier one steel offer are at around USD 1200 per tonne FOB for 1.0 HDG Z120. Wuhan steel is exporting 0.8mm to 1.0mm HDG Z120 at USD 1150 per tonne FOB to USD 1160 per tonne FOB.

Export tonnage for May shipment is about 300,000 tonnes, 40,000 tonnes higher than that of April. The volume for June delivery is set to see further increase.

(Sourced from MySteel.net)