During the week ending December 25, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved up sharply, 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 |
6,596 |
+166 |
1010 |
+26 |
0.426 x 1,000 |
CGCC |
6,716 |
+166 |
1028 |
+25 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have moved on an overall rising trend amid the increasing ferrous metal futures prices and high levels of iron ore prices. Inventory level of PPGI has been at relatively low level, bolstering its prices to some extent. It is thought that PPGI prices in the Chinese domestic market will move sideways in the coming week.
As of December 25, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,589/mt ($702.4/mt), down RMB 20/mt ($3.1/mt) or 0.43 percent from RMB 4,609/mt on December 18.
$1 = RMB 6.5333
