During the week ending September 20, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated a declining trend, 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 $600-625/mt, edging down by $5/mt on average compared to September 13.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,000 |
-17 |
708 |
-2 |
0.426 x 1,000 |
CGCC |
5,160 |
-17 |
730 |
-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 edged down amid slightly increasing inventory levels following the Mid-Autumn Day holiday. Though September is regarded as part of the traditional peak season, demand for PPGI has not been as good as market players had expected. However, downstream users are expected to build up some stocks ahead of the National Day holiday (October 1-7), which would exert a positive impact on PPGI prices in the near future. It is thought that PPGI prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
As of September 20, HRC futures at Shanghai Futures Exchange are standing at RMB 3,228/mt ($457/mt), decreasing by RMB 17/mt ($2.5/mt) or 0.5 percent since September 13, while up 0.28 percent compared to the previous trading day, September 19.
$1 = RMB 7.0644
