During the week ending August 17, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have seen increases, 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, major Chinese steelmaker Baosteel has issued its ex-work prices, raising its PPGI prices by RMB 150/mt ($22/mt), providing solid support to PPGI market. Meanwhile, raw materials prices, including iron ore and coke have moved up, also bolstering PPGI prices to edge up. However, the demand has been slack in current offseason. It is thought that PPGI prices in the Chinese domestic market will move sideways in the coming week.
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Thick color coated coils |
0.476 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,350 |
1,070 |
↑50 |
Guangzhou |
Huamei |
6,300 |
917 |
0 |
|||
Boxing |
Shandong Guanzhou |
6,040 |
879 |
↑40 |
|||
Average |
- |
6,563 |
955 |
↑30 |
|||
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,450 |
1,084 |
↑50 |
Guangzhou |
Huamei |
6,450 |
939 |
0 |
|||
Boxing |
Shandong Guanzhou |
6,350 |
924 |
↑40 |
|||
Average |
- |
6,750 |
983 |
↑30 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.87