During the week ending November 29, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged up, 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.
|
Product name |
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
PPGI |
0.476 x 1,000 |
CGCC |
5,696 |
+16 |
810 |
+2 |
|
PPGI |
0.426 x 1,000 |
CGCC |
5,816 |
+16 |
827 |
+2 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, a supply shortage has pushed up PPGI prices in the Chinese domestic market. However, demand for PPGI has remained slack. Currently, inventory in the PPGI market is at relatively low levels. Market players have started to hold a more cautious view of the future prospects for the PPGI market trend as they expect some downward pressure on prices when northern PPGI supplies begin circulating into southern China.
$1 = RMB 7.03