During the week ending March 1, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have increased very slightly, 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, domestic hot rolled coil (HRC) prices have moved up, providing support for PPGI prices in the Chinese market. Meanwhile, the capacity utilization rates of PPGI producers have increased amid better demand from downstream users. However, PPGI inventories have also rises as demand has not kept up with the increases in production. At the same time, HRC futures prices at Shanghai Futures Exchange (SHFE) have moved on an overall upward trend, boosting sentiment in the HRC spot market. It is thought that PPGI prices in the Chinese domestic market will likely increase 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 |
5,970 |
891 |
↑10 |
|
Guangzhou |
Huamei |
5,800 |
866 |
↑50 |
|||
|
Boxing |
Shandong Guanzhou |
5,640 |
842 |
↓ 50 |
|||
|
Average |
- |
5,803 |
866 |
↑3 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,570 |
981 |
↑10 |
|
Guangzhou |
Huamei |
5,950 |
888 |
↑50 |
|||
|
Boxing |
Shandong Guanzhou |
5,850 |
873 |
↓ 50 |
|||
|
Average |
- |
6,123 |
914 |
↑3 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.70