During the week ending June 30, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated a rising 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, ferrous metals futures prices in China have increased, providing support for PPGI prices in the domestic spot market. Meanwhile, inventories in the PPGI market are now at low levels, exerting a positive impact on PPGI prices. However, the lack of strength of demand in the traditional offseason is a negative factor for the PPGI price trend. 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 |
6,600 |
973 |
0 |
|
Guangzhou |
Huamei |
5,900 |
870 |
↑100 |
|||
|
Boxing |
Guangzhou |
5,050 |
745 |
0 |
|||
|
Average |
- |
5,850 |
863 |
↑33 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,800 |
1,003 |
0 |
|
Guangzhou |
Huamei |
6,000 |
885 |
↑100 |
|||
|
Average |
- |
6,400 |
944 |
↑50 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.78