During the week ending October 27, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have mostly moved sideways, with a very slight uptick seen for thick specifications. 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, PPGI supplies have been on the short side in the domestic market due to shortages of HRC feedstock, and this has provided some support for PPGI prices. Meanwhile, ex-works prices from steelmakers are higher than current spot market prices and so traders are unwilling to sell at lower prices. However, ferrous metals futures prices in China have indicated significant declines on October 27, which may exert a negative impact on the PPGI market in the coming period. It is thought that PPGI prices in the Chinese domestic market will likely move sideways or edge down 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 |
6,800 |
1,023 |
0 |
|
Guangzhou |
Huamei |
6,150 |
925 |
0 |
|||
|
Boxing |
Guangzhou |
6,050 |
910 |
↑30 |
|||
|
Average |
- |
6,354 |
955 |
↑10 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,000 |
1,053 |
0 |
|
Guangzhou |
Huamei |
6,250 |
940 |
0 |
|||
|
Average |
- |
6,625 |
996 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.65