During the week ending May 24, 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-to-medium levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, traders in the domestic PPGI market have been unwilling to build up stocks due to slack demand from downstream users. Accordingly, there have been some supply shortages in certain regions. With the end of the month approaching, some market players have been willing to sell at lower prices to bring in cash. However, iron ore futures prices at Dalian Commodity Exchange (DCE) have continued to rise, which will bolster PPGI prices from the cost side. It is expected that PPGI prices in the Chinese domestic market will fluctuate within a limited range 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 |
5,750 |
833 |
0 |
Guangzhou |
Huamei |
5,900 |
855 |
0 |
|||
Boxing |
Shandong Guanzhou |
5,810 |
842 |
0 |
|||
Average |
- |
5,820 |
843 |
0 |
|||
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,350 |
920 |
0 |
Guangzhou |
Huamei |
6,050 |
877 |
0 |
|||
Boxing |
Shandong Guanzhou |
6,020 |
872 |
0 |
|||
Average |
- |
6,140 |
890 |
0 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.90
