Chinese domestic PPGI prices move up

Friday, 03 July 2020 14:45:49 (GMT+3)   |   Shanghai
       

During the week ending July 3, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved up, 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.

Specification (mm)

Category

Average price (RMB/mt)

Weekly change (RMB/mt)

Price

($/mt)

Weekly change ($/mt)

0.476 x 1,000

CGCC

5,913

+50

837

+10

0.426 x 1,000

CGCC

6,033

+50

854

+10

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

During the given week, local PPGI prices have moved up, while transaction activities have not seen any significant improvement due to the influence of the Dragon Boat Festival (June 25-27). Market players have mentioned that supply is still tight, bolstering PPGI prices. Meanwhile, inventory of PPGI has been relatively low, providing support for PPGI prices. It is expected that PPGI prices in the Chinese domestic market will move sideways in the coming week.

As of July 3, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,606/mt ($510.5/mt), down RMB 53/mt ($7.5/mt) or 1.4 percent from RMB 3,659/mt on June 19.

$1 = RMB 7.0638


Similar articles

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

Romania’s sole flats mill cuts HRC prices, raises HDG and PPGI prices

22 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

US HRC prices still ticking downward, prices expected to bottom this month

15 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Baosteel keeps local HRC prices stable for April

12 Mar | Flats and Slab

US flats mills take primes down $60-$70/gt, announce HRC price increase

08 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab

US HRC, CRC and HDG coil prices maintain their downtrend

01 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 9, 2024

29 Feb | Flats and Slab