During the week ending March 17, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have risen slightly, 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 upward trend due to support from rising raw material prices. Meanwhile, major Chinese steelmaker Wuhan Iron and Steel Co. (WISCO) has issued its prices for April, keeping its PPGI prices unchanged, thereby providing a certain degree of support for PPGI prices in the spot market. Meanwhile, in recent days, ferrous metal futures prices in China have also indicated upward movement, positively influencing the PPGI market. Moreover, at the current relatively high price levels, buyers are very cautious about concluding purchases and this situation has resulted in low-to-medium transaction activity in the market. It is thought that PPGI prices in the Chinese domestic market will likely move sideways or edge up 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 | 6,900 | 999 | ↑50 |
Guangzhou | Huamei | 6,760 | 978 | 0 | |||
Boxing | Guangzhou | 5,310 | 768 | 0 | |||
Average | - | 6,323 | 915 | ↑17 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 7,100 | 1,027 | ↑50 |
Guangzhou | Huamei | 6,860 | 993 | 0 | |||
Average | - | 6,980 | 1,010 | ↑25 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.91