During the week ending August 23, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved down, 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 at $605-630/mt, moving down by $10 on average compared to August 16.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,200 |
-23 |
729 |
-3 |
0.426 x 1,000 |
CGCC |
5,360 |
-23 |
751 |
-3 |
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 sluggish demand from downstream users. PPGI producers’ capacity utilization rates have decreased to relatively low levels, while inventory has increased, continuing to exert a negative impact on prices. Cautious sentiments still prevail among market players. It is thought that PPGI prices in the Chinese domestic market will move down further in the coming week.
As of August 23, HRC futures at Shanghai Futures Exchange are standing at RMB 3,219/mt ($451/mt), increasing by RMB 58/mt ($8.1/mt) or 1.8 percent since August 16, while down 1.86 percent compared to the previous trading day, August 22.
$1 = RMB 7.1358
