During the week ending October 13, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved on a stable trend, 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 domestic steelmaker Baosteel has issued its ex-works prices, keeping its PPGI prices for November and December stable compared to its prices for September and October, thereby supporting the stability of PPGI prices in the spot market. After previous decreases, HRC and rebar futures prices at Shanghai Futures Exchange (SHFE) have risen sharply in the last two trading days, which will provide support for prices of finished steel, including PPGI, in the domestic spot market. It is thought that PPGI prices in the Chinese domestic market will likely continue to 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 |
6,900 |
1,047 |
0 |
|
Guangzhou |
Huamei |
6,200 |
941 |
0 |
|||
|
Boxing |
Guangzhou |
6,020 |
914 |
0 |
|||
|
Average |
- |
6,374 |
967 |
0 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,100 |
1,077 |
0 |
|
Guangzhou |
Huamei |
6,300 |
956 |
0 |
|||
|
Average |
- |
6,700 |
1,017 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.59