During the week ending September 22, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated a downward trend, 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, ferrous metals futures prices in China have declined significantly, exerting a negative impact on PPGI prices in the spot market. Due to environmental protection measures being introduced in some regions of China, demand has been slacker, while steelmakers’ capacity utilization rates have decreased, which will provide a degree of support for PPGI prices. As the National Day Holiday (October 1-8) is approaching, demand is unlikely to improve. However, steelmakers’ ex-works prices for PPGI for October delivery are higher than current spot sales prices, which will bolster PPGI prices in the spot market. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product name |
Spec. |
Quality |
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 |
6,900 |
1,047 |
0 |
|
Guangzhou |
Huamei |
6,250 |
948 |
↓100 |
|||
|
Boxing |
Guangzhou |
6,070 |
921 |
↓50 |
|||
|
Average |
- |
6,407 |
972 |
↓50 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,100 |
1,077 |
0 |
|
Guangzhou |
Huamei |
6,350 |
964 |
↓100 |
|||
|
Average |
- |
6,725 |
1,020 |
↓50 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.59