During the week ending December 4, 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 |
6,230 |
0 |
951 |
+4 |
0.426 x 1,000 |
CGCC |
6,350 |
0 |
969 |
+3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices in the Chinese domestic market have moved sideways against the backdrop of rising HRC futures prices. Meanwhile, supply of PPGI has been tight, bolstering prices. At the same time, inventory has not indicated big changes, which also provides support for PPGI prices. It is expected that PPGI prices in the Chinese domestic market will likely edge up in the coming week.
As of December 4, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,284/mt ($654/mt), up RMB 133/mt ($20.3/mt) or 3.2 percent from RMB 4,151/mt on November 27.
$1 = RMB 6.5507
