During the week ending May 8, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have indicated a downtrend for thin specifications, though remaining stable for thick specifications, while overall transaction activity has been at low levels.
During the given week, downstream users' purchasing activities for PPGI have been sluggish, contributing to the slack demand in the domestic market. Traders have mostly been maintaining a wait-and-see stance as regards the future prospects for the market. As for the coming period, demand will be the key factor determining the PPGI price trend. In the week ahead, it is thought that PPGI prices in the Chinese domestic market will likely move on a slight downtrend amid the cautious attitude prevailing among market participants.
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 | 5,500 | 886 | 0 |
Guangzhou | Huamei | 5,500 | 886 | 0 | |||
Boxing | Guanzhou | 4,400 | 709 | 0 | |||
Average | - | 5,133 | 827 | 0 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,700 | 918 | 0 |
Guangzhou | Huamei | 5,520 | 889 | ↓30 | |||
Average | - | 5,451 | 878 | ↓10 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21