During the week ending October 20, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated a declining trend, 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, participants in the PPGI market have mostly been maintaining a wait-and-see stance, resulting in low-to-medium levels of transaction activity in the market. Many traders have decreased their PPGI sales prices to bring in cash. Currently, most major Chinese steelmakers have issued their ex-works prices for November delivery, holding their PPGI prices stable and thereby providing a certain degree of support for PPGI prices. Moreover, hot rolled coil (HRC) and rebar futures prices moved down significantly in the first four trading days of this week, while indicating a big rise today, October 20, and this latest increase will likely exert a positive impact on the overall finished steel market. It is thought that PPGI prices in the Chinese domestic market will likely move up slightly 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 |
1,027 |
↑100 |
|
Guangzhou |
Huamei |
6,150 |
929 |
↑50 |
|||
|
Boxing |
Guangzhou |
6,020 |
909 |
0 |
|||
|
Average |
- |
6,344 |
958 |
↑30 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,000 |
1,057 |
↑100 |
|
Guangzhou |
Huamei |
6,250 |
944 |
↑50 |
|||
|
Average |
- |
6,625 |
1,001 |
↑75 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.62