During the week ending November 25, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have continued to rise, while transaction activity in the domestic market has been at low levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, domestic PPGI prices have indicated an overall upward trend due to support from rising raw material prices. Meanwhile, ferrous metal futures prices in China have indicated significant increases, providing support for PPGI prices in the spot market. Moreover, most steel enterprises are implementing production restrictions to protect the environment in China's northern region amid cold winter conditions. Accordingly, PPGI will be in shorter supply in the domestic spot market. It is thought that PPGI prices in the Chinese domestic market will likely continue to indicate upward movement in the coming period.
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 | 6,200 | 896 | ↑200 |
Guangzhou | Huamei | 5,800 | 838 | ↑200 | |||
Boxing | Guanzhou | 4,800 | 694 | 0 | |||
Average | - | 5,600 | 809 | ↑133 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 6,400 | 925 | ↑200 |
Guangzhou | Huamei | 5,900 | 853 | ↑200 | |||
Average | - | 5,967 | 862 | ↑178 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.92