During the week ending June 19, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have followed a stable trend, while overall transaction activity has remained slack. Average PPGI prices in the local Chinese market are presented in the table below.
During the given week, iron ore prices have suspended their rising movement and have started to indicate some downticks, thereby exerting a negative impact on PPGI prices from the cost side. Although PPGI offer prices have remained stable in the week in question, some reduction in prices may be negotiated during actual transactions. Meanwhile, major domestic producer Baosteel has decreased its PPGI prices for the third quarter by RMB 150/mt ($24.2/mt) compared to its second quarter prices, negatively affecting sentiment among PPGI traders. It is expected that PPGI prices in the Chinese domestic market will move on a slight downtrend in the coming week.
Product name | Specification (mm) | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thick color coated coils | 0.476 x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,500 | 886 | 0 |
Guangzhou | Huamei | 5,400 | 870 | 0 | |||
Boxing | Guanzhou | 4,380 | 705 | 0 | |||
Average | - | 5,093 | 820 | 0 | |||
Thin color coated coils | 0.426 x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,700 | 918 | 0 |
Guangzhou | Huamei | 5,470 | 881 | 0 | |||
Average | - | 5,427 | 874 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.21