During the week ending April 12, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have risen slightly, 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 up, exerting a positive impact on the PPGI market. Due to support from rising iron ore prices, PPGI traders have increased their offer prices for PPGI. Inventories of PPGI on the traders’ side have been at relatively low levels, which will bolster PPGI prices to a certain extent. However, following the rises already seen in PPGI prices, downstream users have shown a greater unwillingness to conclude purchases. It is expected that domestic PPGI prices in China 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 |
5,900 |
878 |
0 |
|
Guangzhou |
Huamei |
5,900 |
878 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
5,710 |
850 |
↑40 |
|||
|
Average |
- |
5,836 |
868 |
↑13 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,500 |
967 |
0 |
|
Guangzhou |
Huamei |
6,050 |
900 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
5,920 |
881 |
↑40 |
|||
|
Average |
- |
6,156 |
916 |
↑13 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.72