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