During the week ending February 22, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have softened slightly, 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, while participants in the PPGI market have returned from their holiday, demand has not shown any significant improvement, resulting in low activities. Since some production lines have not yet resumed production operations, PPGI stocks in the spot market are on the low side, which will provide support for PPGI prices. Meanwhile, HRC futures prices at Shanghai Futures Exchange (SHFE) have risen continuously in recent trading days, which will also exert a positive impact on the PPGI market. However, the current rainy weather conditions are expected to continue, which will have a negative effect on the release of demand. It is expected that PPGI prices in the Chinese domestic market will move sideways 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 |
5,960 |
887 |
↑10 |
Guangzhou |
Huamei |
5,750 |
856 |
0 |
|||
Boxing |
Shandong Guanzhou |
5,690 |
847 |
↓ 50 |
|||
Average |
- |
5,800 |
863 |
↓ 13 |
|||
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,560 |
976 |
↑10 |
Guangzhou |
Huamei |
5,900 |
878 |
0 |
|||
Boxing |
Shandong Guanzhou |
5,900 |
878 |
↓ 50 |
|||
Average |
- |
6,120 |
911 |
↓ 13 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.72