During the week ending November 15, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved up, 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.
|
Product name |
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
PPGI |
0.476 x 1,000 |
CGCC |
5,680 |
+83 |
810 |
+10 |
|
PPGI |
0.426 x 1,000 |
CGCC |
5,800 |
+33 |
828 |
+4 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, inventory levels of PPGI in China have decreased, exerting a positive impact on PPGI prices. Meanwhile, ferrous metal futures prices have continued to rise, positively affecting sentiment in the PPGI market.
HRC futures prices at Shanghai Futures Exchange (SHFE) have increased from RMB 3,354/mt ($476/mt) on November 8 to RMB 3,484/mt ($498/mt) on November 15, up 3.9 percent.
$1 = RMB 7.009