During the week ending February 2, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market moved sideways, while transaction activity in the domestic market was at low levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, demand was slack due to the approaching of the Chinese New Year holiday (February 15-21), while inventories on the traders’ side were at low levels. Traders will likely seek to build up some stocks ahead of the holiday, which will bolster PPGI prices to some extent. Currently, some private sector PPGI producers have halted production, while other PPGI producers will likely be on holiday starting from next weekend. It is thought that PPGI prices in the Chinese domestic market will move on a stable trend in the following seven days.
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 |
6,850 |
1,089 |
0 |
Guangzhou |
Huamei |
6,300 |
1,002 |
0 |
|||
Boxing |
Guangzhou |
5,950 |
946 |
0 |
|||
Average |
- |
6,367 |
1,012 |
0 |
|||
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
7,000 |
1,113 |
0 |
Guangzhou |
Huamei |
6,400 |
1,017 |
0 |
|||
Average |
- |
6,700 |
1,065 |
0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.29