During the week ending September 2, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have moved on a stable trend, while transaction activity in the domestic market has been at medium levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, local PPGI prices have continued to move sideways for the second consecutive week, following previous increases. Inventory levels of PPGI are higher than in the previous period, and so some steelmakers have started to limit their supply to the market. Traders are now more willing to build up inventories as they are optimistic as regards the future prospects for the market. In the remainder of the year, production reductions will continue to be a key issue in the Chinese domestic finished steel market, which will provide some support for finished steel prices in China. It is thought that PPGI prices in the Chinese domestic market will likely continue their stable movement 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 | 5,800 | 861 | 0 |
| Guangzhou | Huamei | 5,000 | 778 | 0 | |||
| Boxing | Guanzhou | 4,170 | 644 | 0 | |||
| Average | - | 4,990 | 761 | 0 | |||
| Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,950 | 891 | 0 |
| Guangzhou | Huamei | 5,100 | 793 | 0 | |||
| Average | - | 5,525 | 842 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.68