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