During the week ending March 24, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have softened slightly, 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, iron ore prices have indicated a soft trend, weakening the support for local PPGI prices. Meanwhile, the decreases in Chinese domestic flat steel prices in the spot market, especially CRC prices, have also exerted a negative impact on Chinese domestic PPGI prices. As for the coming week, liquidity is expected to be tighter approaching the end of the month, while it is expected that PPGI prices in the Chinese domestic market will likely move down further.
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 | 6,900 | 1,001 | 0 |
Guangzhou | Huamei | 6,710 | 974 | ↓50 | |||
Boxing | Guangzhou | 5,310 | 771 | 0 | |||
Average | - | 6,307 | 915 | ↓17 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 7,100 | 1,030 | 0 |
Guangzhou | Huamei | 6,810 | 988 | ↓50 | |||
Average | - | 6,955 | 1,009 | ↓25 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89