During the week ending March 29, 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-to-medium levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, the volume of bookings PPGI producers have received from downstream users and traders has been relatively low, weakening the support for PPGI prices. Meanwhile, inventories in the market have been consumed at a slow pace, exerting negative pressure on the PPGI market. Ferrous metal futures prices moved down significantly at the beginning of the given week, but have rebounded towards the end of the week. It is expected that PPGI prices will likely 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 |
5,900 |
879 |
0 |
|
Guangzhou |
Huamei |
5,900 |
879 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
5,670 |
845 |
0 |
|||
|
Average |
- |
5,823 |
868 |
0 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,500 |
969 |
0 |
|
Guangzhou |
Huamei |
6,050 |
902 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
5,880 |
876 |
0 |
|||
|
Average |
- |
6,143 |
916 |
0 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.71