During the week ending October 14, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have seen declines, though 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.
Offer prices of ex-China PPGI have been heard between $740-750/mt, moving sideways week on week.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,920 |
-30 |
833 |
-6 |
|
0.426 x 1,000 |
CGCC |
5,983 |
-27 |
842 |
-5 |
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 edged down amid demand not as good as market players expected for the post long holiday period. Chinese major steelmakers, Baosteel Group, Anshan Iron and Steel and Benxi Iron and Steel held their ex-works prices for PPGI stable. Currently, the demand for PPGI has not improved significantly, which will exert a negative impact on its prices in the near future. It is expected that PPGI prices in the Chinese domestic market will maintain the fluctuating trend in the coming week.
As of October 14, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,762/mt ($529/mt), down RMB 79/mt ($11.1/mt) or 2.1 percent from RMB 3,841/mt on September 30.
$1 = RMB 7.1088