During the week ending October 20, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down slightly, though 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 $670-700/mt, moving up by $10/mt on the low end compared to that recorded on October 13.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,773 |
-10 |
804 |
-2 |
|
0.426 x 1,000 |
CGCC |
5,833 |
-10 |
812 |
-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 slightly amid the fluctuating trend of HRC futures prices. Demand for PPGI has not been as good as market players had expected, while sentiments have improved to a certain degree recently, which will exert a positive impact on the PPGI market. It is thought that PPGI prices in the Chinese domestic market will likely move on a fluctuating trend in the coming week.
As of October 20, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,729/mt ($519/mt), up by RMB 2/mt ($0.28/mt) from RMB 3,727/mt on October 13.
$1 = RMB 7.1793