During the week ending December 17, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved up, 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 |
7,026 |
+16 |
1,104 |
+4 |
|
0.426 x 1,000 |
CGCC |
7,142 |
+16 |
1,122 |
+3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
Offer prices of ex-China PPGI have been heard between $920-960/mt FOB, moving sideways week on week.
During the given week, local PPGI prices have indicated a rising trend amid the increasing trend of HRC futures prices. Cautious sentiment has prevailed among market players, and demand has been slack in the PPGI market. It is thought that PPGI prices may fluctuate within a limited range in the coming week.
As of December 17, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,680/mt ($735.3/mt), up RMB 237/mt ($37.2/mt) or 5.3 percent from RMB 4,443/mt on December 10.
$1 = RMB 6.3651