During the week ending April 9, 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.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
6,723 |
+66 |
1,028 |
+14 |
|
0.426 x 1,000 |
CGCC |
6,843 |
+66 |
1,046 |
+14 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have edged up amid increasing raw material prices, while downstream users have been cautious as regards the future prospect for the market. Meanwhile, inventory of PPGI has been at relatively low levels, bolstering prices. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of April 9, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,460/mt ($835/mt), down RMB 96/mt ($15/mt) or 1.73 percent from RMB 5,556/mt on April 2.
$1 = RMB 6.5409