During the week ending August 11, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have continued their upward 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 moved upwards, exerting a positive impact on the domestic PPGI market. Meanwhile, increasing costs have caused traders to push up their offer prices for PPGI. At the same time, the current hot weather conditions have prevented demand from improving. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week, though the movement of the futures market will need to be monitored closely.
|
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 |
1,034 |
↑100 |
|
Guangzhou |
Huamei |
6,200 |
930 |
↑150 |
|||
|
Boxing |
Guangzhou |
5,780 |
867 |
↑130 |
|||
|
Average |
- |
6,293 |
943 |
↑126 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,100 |
1,064 |
↑100 |
|
Guangzhou |
Huamei |
6,300 |
945 |
↑150 |
|||
|
Average |
- |
3,550 |
532 |
↑125 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.67