During the week ending March 10, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have continued to edge up, though transaction activity in the domestic market has been at low-to-medium levels.
Offer prices of ex-China PPGI have been heard between $835-845/mt, moving sideways compared to last week.
Average PPGI prices in the local Chinese market are presented in the following table:
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
6,070 |
10 |
871 |
1 |
|
0.426 x 1,000 |
CGCC |
6,130 |
10 |
880 |
1 |
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 indicated slight rises amid firm raw material prices. The demand for PPGI has gradually improved and this trend will likely continue in the near future, which will provide solid support for prices. It is thought that PPGI prices in the Chinese domestic market will edge up slightly in the coming week.
As of March 10, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,396/mt ($631/mt), up RMB 25/mt ($3.6/mt) or 0.6 percent from RMB 4,371/mt on March 3.
$1 = RMB 6.9655