During the week ending September 30, 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 $740-750/mt, edging 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 |
5,950 |
-16 |
839 |
-14 |
0.426 x 1,000 |
CGCC |
6,010 |
-13 |
847 |
-14 |
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 as buyers from downstream users have not built up their inventory as much as expected. However, sentiments will likely improve following the long National Day holiday (October 1-7), which will bolster PPGI prices. It is expected that PPGI prices in the Chinese domestic market will edge up in the coming week.
As of September 30, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,841/mt ($541/mt), up RMB 22/mt ($3.1/mt) or 0.6 percent from RMB 3,819/mt on September 23.
$1 = RMB 7.0998
