During the week ending August 3, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have increased, 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, Chinese steelmakers have increased their offer prices for PPGI, exerting a positive impact on PPGI prices in the spot market, which have also been supported by increases in ferrous metal futures prices in China. However, PPGI demand from downstream users is slack during the current off-season, resulting in slight rises in inventory levels. It is thought that PPGI prices in the Chinese domestic market will likely 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 |
7,250 |
1,057 |
↑50 |
|
Guangzhou |
Huamei |
6,300 |
918 |
↑50 |
|||
|
Boxing |
Shandong Guanzhou |
6,000 |
875 |
0 |
|||
|
Average |
- |
6,516 |
950 |
↑33 |
|||
|
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,350 |
1,071 |
↑50 |
|
Guangzhou |
Huamei |
6,450 |
940 |
↑50 |
|||
|
Boxing |
Shandong Guanzhou |
6,310 |
920 |
0 |
|||
|
Average |
- |
6,703 |
977 |
↑33 |
16 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.86