Chinese domestic PPGI market moves on stable trend

Friday, 10 March 2017 14:46:20 (GMT+3)   |   Istanbul
       

During the week ending March 10, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated a stable trend, while transaction activity in the domestic market is at low-to-medium levels. Average PPGI prices in the local Chinese market are presented in the following table.

During the given week, production restrictions for environmental protection purposes have resulted in reduced PPGI supply, providing support for PPGI prices in the spot market. Buyers, however, have been unwilling to purchase at the current relatively high levels, resulting in low-to-medium levels of transaction activity in the market. Meanwhile, inventory levels in the market are relatively high at present, exerting a negative impact on PPGI prices in the domestic spot market. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate in a limited range or edge down slightly 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 6,850 991 0
Guangzhou Huamei 6,760 978 0
Boxing Guangzhou 5,310 768 0
Average - 6,306 913 0
Thin color coated coils 0.426 mm x 1,000 x C CGCC Shanghai NewDaZhong 7,050 1020 0
Guangzhou Huamei 6,860 993 0
Average - 6,905 999 0
 
17 percent VAT is included in all prices and all prices are ex-warehouse. 

$1 = RMB 6.91


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