Chinese domestic PPGI prices edge up slightly

Friday, 19 October 2018 17:41:53 (GMT+3)   |   Shanghai
       

During the week ending October 19, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged up 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, major Chinese steelmaker Baosteel has issued its ex-works prices for November delivery, increasing its PPGI prices by RMB 150/mt ($21.6/mt), thereby providing support for PPGI prices in the local spot market. However, bookings receiving by steelmakers from traders have been characterized by some sluggishness as downstream users have been unwilling to conclude purchases. It is expected that PPGI prices in the Chinese domestic market will 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

7,550

1,097

↑50

Guangzhou

Huamei

6,350

916

0

Boxing

Shandong Guanzhou

6,200

895

↑150

Average

-

6,700

969

↑67

Thin color coated coils

0.426 mm x 1,000 x C

CGCC

Shanghai

NewDaZhong

7,650

1,111

↑50

Guangzhou

Huamei

6,500

938

0

Boxing

Shandong Guanzhou

6,510

939

↑150

Average

-

6,887

996

↑67

16 percent VAT is included in all prices and all prices are ex-warehouse. 

$1 = RMB 6.93


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