During the week ending September 16, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated slight fluctuations, though 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.
Offer prices of ex-China PPGI have been heard between $760-770/mt, moving sideways week on week.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,973 |
+7 |
861 |
-3 |
|
0.426 x 1,000 |
CGCC |
6,033 |
-7 |
870 |
-5 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices in the Chinese domestic market have fluctuated within a limited range amid the fluctuating trend in HRC futures prices. Downstream users built up certain stock ahead of the Mid-Autumn Day holiday, releasing part of demand. However, the typhoon Muifa exerted a negative impact on PPGI market early this week. Moreover, Chinese major steelmaker Baosteel held its PPGI prices stable for delivery in October. It is expected that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of September 16, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,758/mt ($544.6/mt), up RMB 80/mt ($11.6/mt) or 2.1 percent from RMB 3,838/mt on September 9.
$1 = RMB 6.9305