During the week ending August 18, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have seen a rising trend for thick specifications, though remaining stable for thin specifications, while transaction activity in the domestic market has been at low-to-medium levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, following the previous sharp rises seen in domestic PPGI prices due to support from increasing ferrous metals futures prices in China, traders in the local PPGI market have been more cautious about concluding purchases. At the same time, major Chinese steelmakers Baosteel, Wuhan Iron and Steel Co. (WISCO) and Hebei Iron and Steel Group have respectively increased their PPGI prices by RMB 450/mt ($67/mt), RMB 450/mt ($67/mt) and RMB 550/mt ($82/mt), providing support for PPGI prices in the spot market. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thick color coated coils |
0.476 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,900 |
1,034 |
0 |
|
Guangzhou |
Huamei |
6,200 |
930 |
0 |
|||
|
Boxing |
Guangzhou |
5,980 |
897 |
↑200 |
|||
|
Average |
- |
6,360 |
954 |
↑67 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,100 |
1,064 |
0 |
|
Guangzhou |
Huamei |
6,300 |
945 |
0 |
|||
|
Average |
- |
3,550 |
532 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.67