During the week ending August 27, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down slightly, 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.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,400 |
-10 |
1,141 |
+1 |
0.426 x 1,000 |
CGCC |
7,500 |
-10 |
1,156 |
0 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have declined slightly amid declining HRC futures prices and cautious sentiments among market players. However, demand for PPGI has remained slack, and so downstream users have held a wait-and-see stance as regards the future prospects for the market. 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 27, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,495/mt ($847/mt), up RMB 37/mt ($5.7/mt) or 0.68 percent from RMB 5,458/mt on August 20.
$1 = RMB 6.4863
