During the week ending November 13, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have moved on a stable trend, while overall transaction activity has remained on the slack side. Average PPGI prices in the local Chinese market are presented in the table below.
During the given week, as the weather is getting colder with the approach of winter, there has been less activity on construction sites, negatively affecting demand for PPGI. The oversupply situation in the market is unlikely to be resolved in the short term. It is thought that local PPGI prices will likely continue their stable trend or see a slight downtrend in the coming week.
Category | 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 | 5,150 | 807 | 0 |
Guangzhou | Huamei | 4,760 | 746 | 0 | |||
Boxing | Guanzhou | 3,390 | 531 | 0 | |||
Average | - | 4,433 | 695 | 0 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,400 | 846 | 0 |
Guangzhou | Huamei | 5,060 | 793 | 0 | |||
Average | - | 5,230 | 820 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.38