During the week ending April 30, 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 |
6,790 |
+34 |
1050 |
+9 |
|
0.426 x 1,000 |
CGCC |
6,910 |
+34 |
1069 |
+10 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have increased slightly amid the rising trend in ferrous metal futures prices. Inventory of PPGI has seen minor rises as downstream users have built up stocks ahead of the Labor Day holiday (May 1-5). It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of April 30, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,688/mt ($879.5/mt), up RMB 98/mt ($15.2/mt) or 1.75 percent from RMB 5,590/mt on April 23.
$1 = RMB 6.4672