During the week ending November 29, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated declines, 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 $600-635/mt FOB, edging down by $5/mt on average compared to that recorded on November 22.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
4,967 |
-17 |
691 |
-2 |
0.426 x 1,000 |
CGCC |
5,127 |
-17 |
713 |
-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 the slack demand from downstream users. PPGI producers’ capacity utilization rates have decreased slightly, while overall supply has been at relatively high levels, still weakening the support for prices. Iron ore prices have edged up, bolstering PPGI prices to a certain degree from the cost side. It is thought that PPGI prices in the Chinese domestic market will continue to fluctuate within a limited range in the coming week.
As of November 29, HRC futures at Shanghai Futures Exchange are standing at RMB 3,489/mt ($485/mt), increasing by RMB 41/mt ($5.7/mt) or 1.2 percent since November 22, while up 0.63 percent compared to the previous trading day, November 28.
$1 = RMB 7.1877
