During the week ending April 7, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have declined, while transaction activity in the domestic market has slackened and is now at low levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, the significant declines in Chinese domestic finished steel prices in late March have continued to impact local PPGI prices. Meanwhile, most traders are maintaining a wait-and-see stance towards the future trend of the market and this has contributed to the slacker transaction activity in the market. Overall local PPGI inventories are still at relatively high levels. It is thought that PPGI prices in the Chinese domestic market will likely edge down slightly in the coming week.
Product name | Spec. | Quality | 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 | 6,800 | 987 | ↓100 |
Guangzhou | Huamei | 6,450 | 936 | ↓200 | |||
Boxing | Guangzhou | 5,310 | 771 | 0 | |||
Average | - | 6,187 | 898 | ↓100 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 7,000 | 1,016 | ↓100 |
Guangzhou | Huamei | 6,550 | 951 | ↓200 | |||
Average | - | 6,775 | 983 | ↓150 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89