During the week ending May 15, 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.
|
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 |
805 |
-2 |
|
0.426 x 1,000 |
CGCC |
5,833 |
0 |
822 |
-2 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, downstream users and traders have been less active in concluding purchases for PPGI as some of them built up stocks in the previous week. Meanwhile, HRC futures prices in China have seen an overall uptrend, bolstering the PPGI market.
As of May 15, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,365/mt ($470/mt), up RMB 38/mt ($5.4/mt) or 1.14 percent from RMB 3,327/mt on May 8.
$1 = RMB 7.0936