During the week ending April 14, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have declined, while transaction activity in the domestic market has been at low levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, Chinese domestic finished steel prices have continued their declining trend as market participants mostly hold a pessimistic view of the future prospects for the market. Currently, PPGI prices in the spot market are lower than the prices at which traders bought in the products they have in stock and so traders are seeking to sell off their products and thus avoid larger losses in the future. Meanwhile, demand is still very poor and transaction activity is slack amid the weak sentiment prevailing in the PPGI market. It is expected that PPGI prices in the Chinese domestic market will likely edge down slightly 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 | 6,700 | 974 | ↓100 |
Guangzhou | Huamei | 6,450 | 938 | 0 | |||
Boxing | Guangzhou | 5,310 | 772 | 0 | |||
Average | - | 6,153 | 894 | ↓33 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 6,900 | 1,003 | ↓100 |
Guangzhou | Huamei | 6,550 | 952 | 0 | |||
Average | - | 6,725 | 977 | ↓50 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.88