Chinese domestic PPGI prices increase in Shanghai, stable in other regions

Friday, 12 July 2019 16:36:22 (GMT+3)   |   Shanghai
       

During the week ending July 12, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved up slightly due to the rises seen in the Shanghai market, 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, PPGI prices in Shanghai have increased, though PPGI prices in other regions of China have moved sideways. Iron ore prices have fluctuated at the current high levels, providing support for PPGI prices. Meanwhile, major Chinese steelmaker Baosteel has issued its ex-works prices for August shipment, raising its PPGI prices by RMB 100/mt, thereby bolstering PPGI prices in the spot market. At the same time, China’s Ministry of Ecology and Environment (MEE) has started a second round of environmental protection inspections as of July 10, with one environmental protection inspection team carrying out inspections in Shanghai, exerting a positive impact on local PPGI prices there. It is expected that PPGI prices in the Chinese domestic market will fluctuate within a limited range 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

5,600

815

↑50

Guangzhou

Huamei

5,900

859

0

Boxing

Shandong Guanzhou

5,790

843

0

Average

-

5,763

839

↑17

Thin color coated coils

0.426 mm x 1,000 x C

CGCC

Shanghai

NewDaZhong

6,200

902

↑50

Guangzhou

Huamei

6,000

873

0

Boxing

Shandong Guanzhou

6,000

873

0

Average

-

6,067

883

↑17

 

13 percent VAT is included in all prices and all prices are ex-warehouse. 

$1 = RMB 6.87


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