During the week ending March 20, 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 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 |
5,713 |
0 |
811 |
+7 |
|
0.426 x 1,000 |
CGCC |
5,833 |
0 |
828 |
+7 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, inventories of PPGI have decreased as transportation conditions improved, resulting in smooth circulation of PPGI supplies in the market. However, demand from downstream industries has still been slack.
As of March 27, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,306/mt ($469.4/mt), down RMB 62/mt ($8.8/mt) or 1.8 percent from RMB 3,368/mt on March 20.
$1 = RMB 7.0427