During the week ending September 3, 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 |
7,416 |
+16 |
1,148 |
+7 |
|
0.426 x 1,000 |
CGCC |
7,516 |
+16 |
1,164 |
+8 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have risen slightly amid the fluctuating trend of HRC futures prices. Demand for PPGI has not seen any significant improvement yet. Market players expect for a better performance in September as it is regarded as the traditional peak season for business. It is thought that PPGI prices may fluctuate within a limited range in the coming week.
As of September 3, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,784/mt ($895.4/mt), up RMB 289/mt ($44.7/mt) or 5.26 percent from RMB 5,495/mt on August 27.
$1 = RMB 6.4577