During the week ending August 26, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved down, 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 $765-775/mt, moving sideways week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
6,126 |
-50 |
895 |
-7 |
0.426 x 1,000 |
CGCC |
6,200 |
-50 |
906 |
-7 |
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 moved down amid the slack demand from downstream users. Following big declines in HRC futures prices in the latter part of last week, they moved on a rebounding trend this week, providing certain support to PPGI prices. It is thought that PPGI prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
As of August 26, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,061/mt ($593/mt), down RMB 234/mt ($34.2/mt) or 6.1 percent from RMB 3,827/mt on August 19.
$1 = RMB 6.8486
