During the week ending September 6, 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 |
5,796 |
0 |
818 |
0 |
|
PPGI |
0.426 x 1,000 |
CGCC |
6,100 |
0 |
860 |
0 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, demand for PPGI has remained slack. Following the rebounding trend seen in ferrous metal futures prices starting from August 30 to September 4, they started to move down during September 5-6, negatively impacting market sentiment. Traders are mostly maintaining a wait-and-see stance as regards the future prospect for the PPGI market. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
$1 = RMB 7.09