During the week ending October 15, 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 |
7,520 |
+83 |
1,168 |
+17 |
0.426 x 1,000 |
CGCC |
7,620 |
+83 |
1,183 |
+17 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have seen rises in line with other flat steel prices in the local market, while futures for HRC have declined. However, demand for PPGI has not shown any significant improvement yet. Some market players are cautious as regards the future prospects for the PPGI market. It is expected that PPGI prices in the Chinese domestic market will move sideways in the coming week.
As of October 8, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,740/mt ($891/mt), down RMB 73/mt ($11.3/mt) or 1.26 percent from RMB 5,813/mt on October 8.
Export offer prices of Chinese PPGI have increased to $1,060-1,130/mt FOB, edging up by $10/mt week on week.
$1 = RMB 6.4386
