During the week ending June 16, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have softened, while transaction activity in the domestic market has been at low levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, local PPGI traders have mostly been adjusting their offer prices in line with the trend of the steel futures market. While traders' PPGI inventories are at low-to-medium levels, demand from downstream users has been slack, exerting a negative impact on PPGI prices in the spot market. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week, provided there are no negative developments.
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 | 5,800 | 852 | ↓50 | |||
Boxing | Guangzhou | 5,050 | 742 | 0 | |||
Average | - | 5,817 | 854 | ↓17 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 6,800 | 999 | 0 |
Guangzhou | Huamei | 5,900 | 866 | ↓50 | |||
Average | - | 6,172 | 906 | ↓22 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.81