During the week ending September 24, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved down, 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 |
7,410 |
-16 |
1,147 |
-4 |
0.426 x 1,000 |
CGCC |
7,510 |
-16 |
1,163 |
-3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have seen slight declines, while downstream users have been cautious in concluding purchases for PPGI. The HRC futures prices at Shanghai Futures Exchange (SHFE) have declined in the given week, exerting a negative impact on PPGI prices. As it is approaching to the National Day holiday (October 1-7), the demand might be slack, while some buyers may build up stock, which will likely bolster PPGI prices. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of September 24, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,511/mt ($853/mt), down RMB 166/mt ($25.7/mt) or 2.9 percent from RMB 5,677/mt on September 17.
$1 = RMB 6.4599
