During the week ending October 27, 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.
Offer prices of ex-China PPGI have been heard at $670-700/mt, moving sideways on average compared to that recorded on October 20.
Average PPGI prices in the local Chinese market are presented in the following table.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,750 |
-23 |
801 |
-3 |
|
0.426 x 1,000 |
CGCC |
5,810 |
-23 |
809 |
-3 |
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 edged down amid slack demand. Currently, PPGI producers’ production capacity utilization rates are at normal levels, while supply has seen slight rises. At the same time, cautious sentiments have prevailed among market players, though inventories of PPGI are at relatively low levels, providing a certain degree of support for prices. It is expected that PPGI prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of October 27, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,844/mt ($535/mt), up by RMB 115/mt ($16/mt) or increasing by 3.1 percent from RMB 3,729/mt on October 20.
$1 = RMB 7.1784