During the week ending December 2, 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-to-medium 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, major Chinese steelmaker Shagang has increased its hot rolled coil prices by RMB 700/mt ($101.74/mt) for December delivery, providing support for the upward movement of PPGI prices in the spot market. However, at the current relatively high price levels, buyers are very cautious about purchasing in the spot market amid the cold winter weather conditions. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming period.
Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thick color coated coils | 0.476 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 6,300 | 916 | ↑100 |
Guangzhou | Huamei | 6,050 | 879 | ↑250 | |||
Boxing | Guanzhou | 4,850 | 705 | ↑50 | |||
Average | - | 5,733 | 833 | ↑133 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 6,500 | 945 | ↑100 |
Guangzhou | Huamei | 6,150 | 894 | ↑250 | |||
Average | - | 6,325 | 919 | ↑175 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.88