During the week ending December 7, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have increased slightly, while transaction activity in the domestic market has been at low levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, market sentiment has improved after the meeting between Chinese President Xi Jinping and his US counterpart Donald Trump resulted in a freeze on new tariffs and an agreement to hold further talks. These developments have also exerted a positive impact on China’s futures market and stock market, while causing PPGI prices to move on a rising trend. However, the cold weather which has hit China will exert a negative impact on the PPGI market. It is expected that PPGI prices in the Chinese domestic market will move sideways 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 |
6,500 |
945 |
0 |
|
Guangzhou |
Huamei |
5,850 |
850 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
5,970 |
868 |
↑50 |
|||
|
Average |
- |
6,107 |
888 |
↑17 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,100 |
1,032 |
0 |
|
Guangzhou |
Huamei |
6,000 |
872 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
6,180 |
898 |
↑50 |
|||
|
Average |
- |
6,427 |
934 |
↑17 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.88