During the week ending May 29, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have moved on a stable trend, while overall transaction activity has been at slack levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, although mainstream domestic PPGI offer prices have remained unchanged, in the actual transaction phase there has been some room for negotiation on prices. Traders have mentioned that they are under pressure from higher inventory levels. If iron ore or other raw materials indicate a declining trend in prices in the coming period, PPGI prices will likely also soften. For the week ahead, it is thought that PPGI prices in the Chinese domestic market will likely continue their stable trend.
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 | 5,500 | 887 | 0 |
Guangzhou | Huamei | 5,450 | 879 | 0 | |||
Boxing | Guanzhou | 4,380 | 706 | 0 | |||
Average | - | 5,110 | 824 | 0 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,700 | 919 | 0 |
Guangzhou | Huamei | 5,470 | 882 | 0 | |||
Average | - | 5,427 | 875 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20