During the week ending September 10, 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 |
7,433 |
+17 |
1,151 |
+3 |
|
0.426 x 1,000 |
CGCC |
7,533 |
+17 |
1,167 |
+3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have risen slightly amid increasing HRC futures prices and improved sentiments among market players. At the same time, demand for PPGI has been better in September, exerting a positive impact on prices. It is expected that PPGI prices in the Chinese domestic market will likely increase in the coming week.
As of September 10, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,858/mt ($908/mt), up RMB 74/mt ($11.5/mt) or 1.28 percent from RMB 5,784/mt on September 3.
$1 = RMB 6.4566