During the week ending October 8, 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 |
7,436 |
+26 |
1,151 |
+4 |
|
0.426 x 1,000 |
CGCC |
7,536 |
+26 |
1,166 |
+3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have seen slight rises, while transaction activities have been at low-to-medium levels. HRC futures prices at Shanghai Futures Exchange (SHFE) have edged up by 1.83 percent compared to the previous trading day (September 30), exerting a positive impact on PPGI prices. However, following the long National Day holiday, demand for PPGI has remained slack. It is expected that PPGI prices in the Chinese domestic market will move sideways in the coming week.
As of October 8, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,813/mt ($900/mt), up RMB 302/mt ($46.7/mt) or 5.48 percent from RMB 5,511/mt on September 24.
Ex-China PPGI price level has remained stable so far at $1,050-1,120/mt FOB so far.
$1 = RMB 6.4604