During the week ending November 17, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated slight rises, though 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.
Offer prices of ex-China PPGI have been heard between $695-720/mt, moving up by $17.5/mt on average compared to that recorded on November 10.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,750 |
17 |
802 |
2 |
|
0.426 x 1,000 |
CGCC |
5,810 |
17 |
810 |
2 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices in the Chinese domestic market have risen slightly amid increasing import iron ore prices. Inventory of PPGI has been at a relatively low level, while demand has not seen any significant improvement, with supply and demand remaining in a weak balance. Downstream users have been unwilling to conclude purchases for high-priced PPGI. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of November 17, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,012/mt ($559/mt), up by RMB 27/mt ($3.8/mt) or increasing by 0.7 percent from RMB 3,985/mt on November 10.
$1 = RMB 7.1728