During the week ending March 5, 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-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 |
6,563 |
0 |
1,011 |
-3 |
|
0.426 x 1,000 |
CGCC |
6,683 |
0 |
1,030 |
-3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have moved sideways following previous rises, Meanwhile, inventory of PPGI has seen slight rises as steel producers have been more willing to produce as they expect better demand in March. However, downstream users have considered PPGI prices to be at quite high levels and so they have been cautious.
As of March 5, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,878/mt ($752/mt), down RMB 9/mt ($1.4/mt) or 0.18 percent from RMB 4,887/mt on February 26.
$1 = RMB 6.4904