During the week ending December 8, 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, higher domestic hot rolled coil (HRC) prices and low PPGI inventory levels have provided support for increases in PPGI prices in the Chinese domestic market. At the same time, local steelmakers have increased their ex-works prices for PPGI; for instance, Tianjin-based Xinyu Color-Coated Sheet Co. has raised its ex-works prices by RMB 200/mt ($30.3/mt). While ferrous metal futures prices in China moved down significantly on December 5-7, they have increased again on December 8. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
Product name |
Spec. |
Quality |
City |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Thick color coated coils |
0.476 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,800 |
1,027 |
↑50 |
Guangzhou |
Huamei |
6,400 |
967 |
↑100 |
|||
Boxing |
Guangzhou |
6,200 |
937 |
↑100 |
|||
Average |
- |
6,466 |
977 |
↑83 |
|||
Thin color coated coils |
0.426 mm x 1,000 x C |
CGCC |
Shanghai |
NewDaZhong |
6,950 |
1,050 |
↑50 |
Guangzhou |
Huamei |
6,500 |
982 |
↑100 |
|||
Average |
- |
6,725 |
1,016 |
↑75 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.62
