During the week ending March 31, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated a soft 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, amid the significant overall decline in prices in the Chinese flat rolled steel market, local PPGI prices have also decreased. Meanwhile, most traders are maintaining a wait-and-see stance towards the future trend of the market, with some of them unwilling to sell as they want to sell at a better price later, thereby contributing to the slack transaction activity in the market. It is thought that PPGI prices in the Chinese domestic market will likely 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 | 6,900 | 1,001 | 0 |
Guangzhou | Huamei | 6,650 | 965 | ↓60 | |||
Boxing | Guangzhou | 5,310 | 771 | 0 | |||
Average | - | 6,287 | 912 | ↓20 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 7,100 | 1,030 | 0 |
Guangzhou | Huamei | 6,750 | 980 | ↓60 | |||
Average | - | 6,925 | 1,005 | ↓30 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89