During the week ending February 5, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have remained stable, 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 |
6,463 |
0 |
999 |
0 |
0.426 x 1,000 |
CGCC |
6,583 |
0 |
1017 |
0 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have moved sideways as most market players are already off for the Chinese New Year holiday (February 11-17). Meanwhile, the inventory of PPGI has risen slightly. It is thought that PPGI prices in the Chinese domestic market will continue their stable trend in the coming week.
As of February 5, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,450/mt ($688/mt), up RMB 60/mt ($9.3/mt) or 1.4 percent from RMB 4,390/mt on January 29.
$1 = RMB 6.471
