During the week ending November 30, 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 following table.
During the given week, snowy weather and dropping temperatures have negatively affected demand from downstream users of PPGI in China, while also impacting transportation and deliveries. Since inventories are at relatively low levels, PPGI traders have kept their offer prices stable, while they are mostly maintaining a wait-and-see stance as regards the future prospects for the market. As for the coming period, the flow of PPGI supplies from northern China to other regions of the country will be a key factor determining the trend of local PPGI prices. It is thought that PPGI prices in the Chinese domestic market will likely move sideways 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 | 5,000 | 781 | 0 |
Guangzhou | Huamei | 4,750 | 742 | 0 | |||
Boxing | Guanzhou | 3,240 | 506 | 0 | |||
Average | - | 4,330 | 677 | 0 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,300 | 828 | 0 |
Guangzhou | Huamei | 5,040 | 788 | 0 | |||
Average | - | 4,890 | 764 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.40