During the week ending November 17, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have continued to rise. 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, ferrous metal futures prices in China, including HRC futures and rebar futures at Shanghai Futures Exchange (SHFE), first increased significantly though declining in the past three trading days, contributing to the week-on-week increases in domestic PPGI prices. Chinese steel giant Baowu Steel Group has issued its ex-works prices for PPGI, holding its PPGI prices stable for December delivery, and this will likely provide support for the stability of PPGI prices in the coming period. Meanwhile, entering the winter season, downstream purchases of PPGI will likely decrease as construction activities will slow down. It is expected that PPGI prices in the Chinese domestic market will likely 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 |
6,800 |
1,026 |
0 |
|
Guangzhou |
Huamei |
6,300 |
950 |
↑50 |
|||
|
Boxing |
Guangzhou |
6,100 |
920 |
↑50 |
|||
|
Average |
- |
6,400 |
965 |
↑33 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,950 |
1,048 |
0 |
|
Guangzhou |
Huamei |
6,400 |
965 |
↑50 |
|||
|
Average |
- |
6,675 |
1,007 |
↑25 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.63