As of March 16, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market are almost stable week on week, with just a very slight softening seen in some prices, 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, buyers in the local PPGI market have mostly been purchasing only in line with their needs, with demand from downstream users failing to improve significantly. Some traders have allowed room for negotiation on their offer prices, contributing to the slight softening of some PPGI prices. Meanwhile, ferrous metal futures prices in China moved down in the first part of the week, but have rebounded slightly in recent days. Market participants expect better demand in the coming period. It is thought that PPGI prices in the Chinese domestic market will move sideways in the week ahead.
|
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 |
6,750 |
1,066 |
↓50 |
|
Guangzhou |
Huamei |
6,290 |
994 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
5,940 |
938 |
↓60 |
|||
|
Average |
- |
6,327 |
999 |
↓37 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,900 |
1,090 |
↓50 |
|
Guangzhou |
Huamei |
6,300 |
995 |
↓90 |
|||
|
Boxing |
Shandong Guanzhou |
6,310 |
997 |
0 |
|||
|
Average |
- |
6,503 |
1,027 |
↓47 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.33