During the week ending January 13, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have remained stable, though 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.
Offer prices of ex-China PPGI have been heard between $785-795/mt, moving up by $40/mt week on week.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,896 |
- |
847 |
- |
|
0.426 x 1,000 |
CGCC |
5,956 |
- |
855 |
- |
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 sideways as the Chinese New Year holiday (January 21-27) is drawing very close. Many traders and downstream users have been preparing for the holiday and so the market has been quiet. Market players expect an increasing trend in PPGI prices after the long holiday.
As of January 13, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,202/mt ($624/mt), up RMB 38/mt ($3.3/mt) or 0.9 percent from RMB 4,166/mt on January 6.
$1 = RMB 6.7292