During the week ending January 7, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have decreased, 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.
Offer prices of ex-China PPGI have been heard between $920-960/mt FOB, remaining stable week on week.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
6,876 |
-50 |
1,079 |
-7 |
|
0.426 x 1,000 |
CGCC |
6,993 |
-50 |
1,097 |
-8 |
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 declined following the New Year holiday. Downstream users have been cautious in concluding PPGI purchases. However, HRC futures prices have risen, which may exert a positive impact on PPGI prices in the coming period as market players may build up stocks ahead of the Chinese New Year holiday. It is thought that PPGI prices may fluctuate within a limited range in the coming week.
As of January 7, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,677/mt ($734/mt), up RMB 266/mt ($41.7/mt) or 6.03 percent from RMB 4,411/mt on December 31.
$1 = RMB 6.3742