During the week ending September 4, 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.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
6,046 |
+66 |
884 |
+16 |
|
0.426 x 1,000 |
CGCC |
6,166 |
+66 |
902 |
+17 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have moved up amid steelmakers’ announcements of higher ex-works prices and surging iron ore prices. Meanwhile, demand for PPGI has not seen any significant improvement as market players are cautious given the current high levels of prices. It is thought that PPGI prices in the Chinese domestic market will move sideways in the coming week.
As of September 4, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,910/mt ($572/mt), down RMB 50/mt ($7.3/mt) or 1.3 percent from RMB 3,960/mt on August 28.
$1 = RMB 6.8359