During the week ending January 6, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved sideways, though transaction activity in the domestic market has been at low-to-medium levels.
Offer prices of ex-China PPGI have been heard between $745-755/mt, edging up by $5/mt week on week.
Average PPGI prices in the local Chinese market are presented in the following table.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,896 |
- |
847 |
- |
0.426 x 1,000 |
CGCC |
5,956 |
- |
855 |
- |
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 remained stable amid the weak situation of both supply and demand. As the Chinese New Year holiday is approaching, downstream enterprises are preparing for the holiday, resulting in a quiet market. At the same time, iron ore prices have been at relatively high levels, bolstering PPGI prices from the cost side. It is thought that PPGI prices in the Chinese domestic market will continue their stable trend in the coming week.
As of January 6, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,166/mt ($605/mt), up RMB 23/mt ($3.3/mt) or 0.56 percent from RMB 4,143/mt on December 30.
$1 = RMB 6.8912
