During the week ending December 3, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic and export market have edged down, while transaction activity in the domestic market has remained subdued. 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 |
6,994 |
-66 |
1,097 |
-7 |
|
0.426 x 1,000 |
CGCC |
7,110 |
-66 |
1,116 |
-6 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
Offer prices of ex-China PPGI are standing at $920-960/mt FOB, moving down by $10/mt week on week.
During the given week, PPGI prices have indicated slight declines amid the slack demand from downstream users, though HRC futures prices have seen a rebounding trend, which provided certain support to market players’ sentiments. It is expected that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of December 3, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,596/mt ($721.5/mt) (the main contract for HRC futures has shifted from hc 2201 to hc 2205), up RMB 287/mt ($45.1/mt) or 6.66 percent from RMB 4,309/mt on November 26.
$1 = RMB 6.3738