During the week ending September 20, 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.
|
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 |
+17 |
822 |
+4 |
|
PPGI |
0.426 x 1,000 |
CGCC |
6,116 |
+16 |
865 |
+5 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
In the given week, cautious sentiment has prevailed in the domestic steel market. HRC futures prices at Shanghai Futures Exchange (SHFE) have decreased from RMB 3,568/mt ($504/mt) on September 12 to RMB 3,400/mt ($481/mt) on September 20, down 4.7 percent.
During the given week, PPGI prices have risen in Guangzhou, while indicating some declines in the Shanghai market, resulting in an uptrend seen in average prices of PPGI nationwide, while demand has not improved significantly. Currently, inventories of PPGI are at relatively low levels, which will bolster PPGI prices. It is expected that PPGI prices in the Chinese domestic market will move sideways in the coming week.
$1 = RMB 7.07