During the week ending August 12, in the Chinese domestic market pre-painted galvanized iron (PPGI) quotations have remained stable apart from quotations for thick specifications in Boxing which have increased, contributing to the slight rise in overall average prices for thick specifications in China, while transaction activity in the domestic market is still at low levels. Average PPGI prices in the local Chinese market are presented in the table below.
During the given week, ferrous metal futures prices in China have moved on an upward trend, providing support for PPGI prices as well as boosting traders' confidence as regards the future prospects for the PPGI market. Meanwhile, on August 11, Chinese major steelmaker Baosteel issued its ex-works prices for September delivery, increasing its PPGI prices by RMB 100/mt ($15/mt), which will also boost market prices. It is thought that PPGI prices in the Chinese domestic market will likely edge up in the coming week.
Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thick color coated coils | 0.476 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,800 | 873 | 0 |
Guangzhou | Huamei | 5,000 | 753 | 0 | |||
Boxing | Guanzhou | 4,170 | 628 | ↑80 | |||
Average | - | 4,990 | 752 | ↑27 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,950 | 896 | 0 |
Guangzhou | Huamei | 5,100 | 768 | 0 | |||
Average | - | 5,525 | 832 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.64