During the week ending December 13, 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 |
5,730 |
0 |
817 |
+3 |
|
PPGI |
0.426 x 1,000 |
CGCC |
5,850 |
0 |
834 |
+3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, supply in the local PPGI market has remained tight due to the slow circulation of products. Amid colder winter weather, market players expect slacker demand in the near future and have been unwilling to build up stocks, which will exert a negative impact on PPGI prices. It is thought that PPGI prices in the Chinese domestic market will continue to move sideways in the coming week.
As of December 13, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,732/mt ($531.9/mt), up RMB 111/mt or 3.1 percent from RMB 3,621/mt ($514.5/mt) on December 6.
$1 = RMB 7.016