During the week ending June 24, average pre-painted galvanized iron (PPGI) quotations in the Chinese domestic market have moved sideways, while transaction activity in the overall market has been at low levels. Average PPGI prices in the local Chinese market are presented in the table below.
During the given week, Benxi Steel Group has issued its ex-works prices for July delivery, lowering its prices for hot rolled coil (HRC), cold rolled coil (CRC) and hot dip galvanized (HDG) by RMB 200/mt ($30/mt), exerting a negative impact on market participants' confidence. After previous declines, PPGI traders have kept their prices stable in the past week. It is expected that PPGI prices in the Chinese domestic market will likely continue their stable trend in the coming week.
Product name | Spec. | Category | City | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
Thick color coated coils | 0.476 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,800 | 877 | ↔0 |
Guangzhou | Huamei | 5,000 | 756 | ↔0 | |||
Boxing | Guanzhou | 4,000 | 605 | ↔0 | |||
Average | - | 4,933 | 746 | ↔0 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 5,950 | 900 | ↔0 |
Guangzhou | Huamei | 5,150 | 779 | ↔0 | |||
Average | - | 5,550 | 840 | ↔0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.61