During the week ending August 19, pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have indicated a rising trend, while transaction activity in the domestic market is still at low levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, some shortages have been seen in supplies of PPGI, providing support for domestic PPGI prices. Meanwhile, major Chinese steelmaker Baosteel has raised its PPGI ex-works prices by RMB 100/mt ($15/mt) for September delivery, exerting a positive impact on the PPGI spot market. At the same time, environmental protection measures have started to be implemented ahead of the G20 summit to be held on September 4-5 in Hangzhou and this will negatively impact steel production levels. Furthermore, ferrous metal futures prices have indicated an overall upward trend, which will boost PPGI prices in the spot market. It is thought that PPGI prices in the Chinese domestic market will likely edge up in the coming week.
Product name |
Spec. |
Category |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Thick color coated coils |
0.476 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
5,750 |
865 |
↓50 |
Guangzhou |
Huamei |
5,200 |
782 |
↑200 |
|||
Boxing |
Guanzhou |
4,300 |
647 |
↑130 |
|||
Average |
- |
5,084 |
765 |
↑94 |
|||
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
5,950 |
895 |
0 |
Guangzhou |
Huamei |
5,300 |
797 |
↑200 |
|||
Average |
- |
5,625 |
846 |
↑100 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.65