During the week ending November 27, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved up slightly, 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 |
6,230 |
+17 |
935 |
+3 |
0.426 x 1,000 |
CGCC |
6,350 |
+17 |
963 |
+3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have edged up slightly amid rising HRC futures prices and increasing raw material prices. Meanwhile, inventory of PPGI has been at relatively low levels, bolstering prices. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of November 27, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,151/mt ($631.3/mt), up RMB 67/mt ($10.2/mt) or 1.64 percent from RMB 4,084/mt on November 20.
$1 = RMB 6.5755
