As of May 17, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved upwards on week-on-week basis, 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 edged down first but have moved upwards in the last three trading days of the week. In particular, due to reports of maintenance works at BHP Billiton’s Newman mine (to affect shipments for early July) and safety issues at Vale's Gongo Soco mine, iron ore futures prices at Dalian Commodity Exchange (DCE) have moved up significantly, positively affecting market players’ sentiment and providing solid support for prices in the domestic steel market. At the same time, inventories of PPGI are at relatively low levels, also bolstering PPGI prices to some extent. It is expected that PPGI prices in the Chinese domestic market will edge 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 |
5,750 |
832 |
0 |
|
Guangzhou |
Huamei |
5,900 |
854 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
5,810 |
841 |
↑100 |
|||
|
Average |
- |
5,820 |
842 |
↑33 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,350 |
919 |
0 |
|
Guangzhou |
Huamei |
6,050 |
876 |
0 |
|||
|
Boxing |
Shandong Guanzhou |
6,020 |
871 |
↑100 |
|||
|
Average |
- |
6,140 |
889 |
↑33 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.91