During the week ending November 9, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved on a stable trend, while transaction activity in the domestic market has been at low-to-medium levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, participants in the domestic PPGI market have been downbeat on the future prospects for the price trend as demand has not shown any improvement. Meanwhile, ferrous metal futures prices in China have moved down, exerting a negative impact on the PPGI market. However, the prices at which traders have bought in PPGI supplies from steelmakers have provided some support for PPGI prices in the spot market. It is thought that PPGI prices in the Chinese domestic market will likely edge down 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 |
7.150 |
1.029 |
0 |
|
Guangzhou |
Huamei |
6.250 |
899 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
6.200 |
892 |
0 |
|||
|
Average |
- |
6.533 |
940 |
0 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7.750 |
1.115 |
0 |
|
Guangzhou |
Huamei |
6.400 |
921 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
6.510 |
937 |
0 |
|||
|
Average |
- |
6.887 |
991 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.95