During the week ending August 16, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved sideways, 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.
|
Product name |
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
PPGI |
0.476 x 1,000 |
CGCC |
5,813 |
0 |
825 |
0 |
|
PPGI |
0.426 x 1,000 |
CGCC |
6,116 |
0 |
868 |
0 |
Starting from the beginning of this week, ferrous metal futures prices in China have moved on an upward trend, positively affecting sentiment in the local PPGI market and providing a certain degree of support for PPGI prices. Meanwhile, the very hot weather conditions in China have eased to some extent and so demand for PPGI has started to improve. It is expected that PPGI prices in the Chinese domestic market will fluctuate within a limited range in the coming week.