During the week ending March 22, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have remained stable, 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, ferrous metal futures prices in China have moved sideways, contributing to the stability of PPGI prices in the domestic spot market. Domestic steelmakers have been receiving PPGI bookings at higher prices for April delivery, which will provide support for PPGI prices in the spot market in the future. Meanwhile, inventories are being consumed as demand from downstream users has improved. It is expected that PPGI prices in the Chinese domestic market will 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 |
5,900 |
879 |
↓50 |
|
Guangzhou |
Huamei |
5,900 |
879 |
↑50 |
|||
|
Boxing |
Shandong Guanzhou |
5,670 |
845 |
0 |
|||
|
Average |
- |
5,823 |
868 |
0 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,500 |
969 |
↓50 |
|
Guangzhou |
Huamei |
6,050 |
902 |
↑50 |
|||
|
Boxing |
Shandong Guanzhou |
5,880 |
876 |
0 |
|||
|
Average |
- |
6,143 |
915 |
0 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.71