During the week ending September 15, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved on a stable 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, Chinese major steelmaker Ansteel has increased its ex-works prices for PPGI by RMB 100/mt ($15.4/mt), providing support for PPGI prices in the domestic market. However, demand for PPGI has still not indicated any significant improvement. Meanwhile, PPGI supplies arriving in the spot market have started to increase lately. At the same time, ferrous metal futures prices in China have declined in the past few days, which will negatively affect the PPGI market. It is thought that PPGI prices in the Chinese domestic market will likely move down in the coming week.
|
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
Thick color coated coils |
0.476 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,900 |
1,055 |
0 |
|
Guangzhou |
Huamei |
6,350 |
971 |
0 |
|||
|
Boxing |
Guangzhou |
6,120 |
936 |
0 |
|||
|
Average |
- |
6,482 |
991 |
0 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,100 |
1,086 |
0 |
|
Guangzhou |
Huamei |
6,350 |
971 |
0 |
|||
|
Average |
- |
6,775 |
1,036 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.54