During the week ending November 13, 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 |
6,196 |
+83 |
935 |
+13 |
|
0.426 x 1,000 |
CGCC |
6,316 |
+83 |
953 |
+13 |
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 moved up amid the rising trends in raw material prices and steelmakers’ ex-works prices. Meanwhile, tight supply has also bolstered PPGI prices. Currently, inventory of PPGI is at relatively low levels, which will exert a positive impact on prices.
As of November 13, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,970/mt ($599/mt), up RMB 50/mt ($7.54/mt) or 1.3 percent from RMB 3,920/mt on November 6.
$1 = RMB 6.629