During the week ending August 23, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved sideways, 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.
Product name |
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
PPGI |
0.476 x 1,000 |
CGCC |
5,813 |
0 |
825 |
0 |
PPGI |
0.426 x 1,000 |
CGCC |
6,116 |
0 |
868 |
0 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have moved on a stable trend. Some PPGI producers have implemented production cuts, providing a certain degree of support for PPGI prices. However, market players are cautious on the prospects for the PPGI market in the traditional peak season of September as declines in iron ore prices will weaken support for PPGI prices. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
$1 = RMB 7.05
