During the week ending August 14, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have moved on a stable trend, while overall transaction activity has been better than in the previous week though it still remains on the slack side. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, semi-finished steel prices in China have moved on a rising trend, providing support for PPGI prices and resulting in bullish sentiment among market participants. However, transaction activity has remained at low levels as downstream users are mostly cautious about concluding purchases. In addition, major Chinese steelmaker Wuhan Iron and Steel Co. (WISCO) has issued its ex-works steel prices for September delivery, keeping its PPGI prices stable, contributing to the stability of market prices. It is expected that PPGI prices in the Chinese domestic market will also move on a stable trend in the coming week.
Product name | Spec. | Category | 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 | 5,300 | 828 | 0 |
Guangzhou | Huamei | 5,060 | 791 | 0 | |||
Boxing | Guanzhou | 3,750 | 586 | 0 | |||
Average | - | 4,703 | 735 | 0 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,500 | 859 | 0 |
Guangzhou | Huamei | 5,160 | 806 | 0 | |||
Average | - | 5,121 | 800 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.40