During the week ending May 5, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved up slightly, while transaction activity in the domestic market has been at medium levels. Average PPGI prices in the local Chinese market are presented in the following table.
During the given week, steel production restrictions for the One Belt One Road Forum in Beijing in mid-May and the shutdown of all substandard steel production in China have positively impacted semi-finished and finished steel prices in the Chinese domestic market, also providing support for increases in domestic PPGI prices. 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 | 6,600 | 958 | 0 |
Guangzhou | Huamei | 5,950 | 864 | 0 | |||
Boxing | Guangzhou | 4,950 | 718 | ↑100 | |||
Average | - | 5,833 | 847 | ↑33 | |||
Thin color coated coils | 0.426 mm x 1,000 x C | CGCC | Shanghai | NewDaZhong | 6,800 | 987 | 0 |
Guangzhou | Huamei | 6,050 | 878 | 0 | |||
Average | - | 6,425 | 933 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.89