During the week ending September 23, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated slight declines, 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 $750-760/mt, moving down by $10/mt week on week.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,966 |
-7 |
853 |
-8 |
|
0.426 x 1,000 |
CGCC |
6,023 |
-10 |
861 |
-9 |
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 edged down slightly as some market players lacked confidence in the prospects for the future market. HRC futures prices moved down first, while bottoming up over the past two trading days, also affecting the PPGI market. As the National Day holiday (October 1-7) is approaching, some downstream users may replenish stocks, which will bolster PPGI prices to some extent. It is thought that PPGI prices in the Chinese domestic market may edge up slightly in the coming week.
As of September 23, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,819/mt ($546/mt), up RMB 61/mt ($8.7/mt) or 1.6 percent from RMB 3,758/mt on September 16.
$1 = RMB 6.992