During the week ending August 30, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have seen a decrease, 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.
Offer prices of ex-China PPGI have been heard between $610-635/mt FOB, moving up by $5/mt on average compared to that recorded on August 23.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,150 |
-50 |
724 |
-7 |
0.426 x 1,000 |
CGCC |
5,310 |
-50 |
747 |
-7 |
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 edged down amid the relatively low production utilization rates on producers’ side. Meanwhile, the inventory of PPGI declined slightly, though which still stood at relatively high level. Raw material prices edged up, bolstering PPGI prices, while the slack demand weakened support to prices. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of August 30, HRC futures at Shanghai Futures Exchange are standing at RMB 3,339/mt ($470/mt), increasing by RMB 120/mt ($17/mt) or 3.7 percent since August 23, while down 0.06 percent compared to the previous trading day, August 29.
$1 = RMB 7.1358
