During the week ending September 26, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have remained stable compared to the previous week, 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.
Offer prices of ex-China PPGI have been heard between $605-635/mt, moving sideways on average compared to that recorded on September 19.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,890 | - | 689 | - |
| 0.426 x 1,000 | CGCC | 5,067 | - | 713 | - |
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 stock replenishments ahead of the National Day holiday (October 1-8) have bolstered prices to a certain degree. However, demand for PPGI has not seen big changes, while inventories have increased, exerting a negative impact on prices. Market players have started to be cautious. It is thought that PPGI prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of September 26, HRC futures at Shanghai Futures Exchange are standing at RMB 3,313/mt ($467/mt), decreasing by RMB 61/mt (8.6/mt) or 1.8 percent since September 19, while down 1.22 percent compared to the previous trading day, September 25.
$1 = RMB 7.1152
