During the week ending May 31, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved on a rising 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, PPGI prices in Guangzhou have indicated big rises as supply shortages there have provided support for PPGI prices. However, following the price rises seen in the domestic market, downstream buyers have been unwilling to conclude purchases, resulting in low activities. Some PPGI producers have given discounts to traders when settling transaction prices, while sales prices in the spot market are still higher than the cost of buying in new PPGI supplies from producers. Sentiment as regards the prospects for the future price trend is downbeat. It is expected that PPGI prices in the Chinese domestic market will soften 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 |
5,000 |
724 |
↓50 |
|
Guangzhou |
Huamei |
6,150 |
890 |
↑200 |
|||
|
Boxing |
Shandong Guanzhou |
5,810 |
841 |
0 |
|||
|
Average |
- |
5,903 |
854 |
↑83 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,300 |
912 |
↓50 |
|
Guangzhou |
Huamei |
6,250 |
904 |
↑200 |
|||
|
Boxing |
Shandong Guanzhou |
6,020 |
871 |
0 |
|||
|
Average |
- |
6,223 |
901 |
↑83 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.91