PPGI prices in Chinese domestic market move sideways

Friday, 11 October 2019 15:08:48 (GMT+3)   |   Shanghai
       

During the week ending October 11, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved on a stable trend compared to the previous week, 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.  

Product name

Specification (mm)

Category

Average price (RMB/mt)

Weekly change (RMB/mt)

Price

($/mt)

Weekly change ($/mt)

PPGI

0.476 x 1,000

CGCC

5,830

0

824

0

PPGI

0.426 x 1,000

CGCC

6,133

0

867

0

Following the week-long holiday, performance in PPGI market has not been good as expected as demand from downstream users has been slack. HRC futures prices at Shanghai Futures Exchange (SHFE) have decreased from RMB 3,443/mt ($481/mt) on September 27 to RMB 3,372/mt ($487/mt) on October 11, down 2.1 percent.

On October 10, Chinese major steelmaker Baosteel has issued its local prices for PPGI for November delivery and left it stable, which will not very good sign for the market, but it may prevent prices from the fall in the near future. 

$1=RMB 7.07


Most Recent Related Articles

Shagang Group raises local HRC prices by $35.4/mt for July

Ex-China stainless steel prices remain stable

Chinese HRC exporters still focus on local sales, imports weak ahead of holidays

China’s steel plate export prices edge down, tough competition in Asia

Ex-China CRC prices stop rising, slight gains still seen in local market