During the week ending May 25, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have increased, while transaction activity in the domestic market has improved and is now at medium levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, the rising trend of Chinese ferrous metal futures prices and the overall upward movement of the domestic finished steel market have contributed to the increases seen in pre-painted galvanized iron (PPGI) prices in China. Market sentiment has improved, resulting in better transaction activity. Meanwhile, decreases in domestic PPGI inventory levels have also exerted a positive impact on PPGI prices. It is expected that PPGI prices in the Chinese domestic market will likely edge up slightly 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 | 962 | 0 |
Guangzhou | Huamei | 6,050 | 882 | ↑100 | |||
Boxing | Guangzhou | 5,050 | 736 | ↑100 | |||
Average | - | 5,900 | 860 | ↑67 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 6,800 | 991 | 0 |
Guangzhou | Huamei | 6,150 | 897 | ↑100 | |||
Average | - | 6,475 | 944 | ↑50 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.86