During the week ending January 18, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved sideways, 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, demand for PPGI from downstream users in China has been slack. PPGI inventories have decreased, easing the pressure from the inventory side. Currently, most PPGI producers have maintained normal production rates. However, some of them will halt production or reduce output as of the end of next week due to the approaching Chinese New Year holiday (February 2-10). It is expected that PPGI prices in the Chinese domestic market will continue to move on a stable trend 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 |
5,950 |
878 |
0 |
|
Guangzhou |
Huamei |
5,750 |
848 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
5,740 |
847 |
0 |
|||
|
Average |
- |
5,813 |
857 |
0 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,550 |
966 |
0 |
|
Guangzhou |
Huamei |
5,900 |
870 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
5,950 |
878 |
0 |
|||
|
Average |
- |
6,133 |
905 |
0 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.78