During the week ending January 17, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved on a stable trend, while transaction activity in the domestic market has been at low levels. 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 |
5,780 |
0 |
839 |
+6 |
|
0.426 x 1,000 |
CGCC |
5,900 |
0 |
857 |
+6 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, demand for PPGI has been slack as most market players have prepared to leave the market by the end of the week due to the closely approaching Chinese New Year holiday. It is thought that PPGI prices in the Chinese domestic market will continue their stable trend in the coming week.
As of January 17, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,635/mt ($527.7/mt), up RMB 35/mt ($5.1/mt) or 1.0 percent from RMB 3,600/mt on January 10.
$1 = RMB 6.888