During the week ending June 2, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated 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, downstream users are not so willing to conclude purchases of PPGI following previous price rises. Meanwhile, inventory levels in the PPGI market have declined, which provides support for sellers who prefer to wait in the hope of selling at higher prices later. It is expected that PPGI prices in the Chinese domestic market will again 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 | 6,600 | 969 | 0 |
Guangzhou | Huamei | 6,050 | 888 | 0 | |||
Boxing | Guangzhou | 5,050 | 742 | 0 | |||
Average | - | 5,900 | 866 | 0 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 6,800 | 999 | 0 |
Guangzhou | Huamei | 6,150 | 903 | 0 | |||
Average | - | 6,475 | 951 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.81