Low inventory in Chinese domestic PPGI market

Friday, 21 October 2016 15:04:13 (GMT+3)   |   Shanghai
       

During the week ending October 21, average prices of pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have indicated an uptrend, while transaction activity in the domestic market has been at decent levels. Average PPGI prices in the local Chinese market are presented in the following table. 

During the given week, ferrous metal futures prices in China have generally increased (though indicating a declining trend on October 21), providing support for PPGI prices in the spot market. Some PPGI traders hold an optimistic view of the future prospects for the PPGI market, though some traders are more cautious and maintain a wait-and-see stance, keeping their prices stable. Inventories of PPGI in the market are at low levels, which will provide support for PPGI prices. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.  
 

Product name

Spec.

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

5,750

851

0

Guangzhou

Huamei

5,300

784

↑100

Boxing

Guanzhou

4,500

666

0

Average

-

5,183

767

↑33

Thin color coated coils

0.426 mm x 1,000 x C

CGCC

Shanghai

NewDaZhong

5,950

880

0

Guangzhou

Huamei

5,400

799

↑100

Average

-

5,675

839

↑50

 
17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.76


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