During the week ending November 1, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged up slightly, 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 $610-640/mt FOB, moving sideways on average compared to that recorded on October 25.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,093 |
17 |
716 |
2 |
0.426 x 1,000 |
CGCC |
5,253 |
17 |
738 |
2 |
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 indicated slight rises amid increasing HRC futures prices. Demand for PPGI has not seen any significant improvement yet, while sellers mostly choose to sell at lower prices to reduce inventories. There have been limited PPGI supplies circulating in the spot market, which may bolster prices to a certain degree. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of November 1, HRC futures at Shanghai Futures Exchange are standing at RMB 3,559/mt ($501/mt), increasing by RMB 19/mt ($2.7/mt) or 0.5 percent since October 25, while down 0.89 percent compared to the previous trading day, October 31.
$1 = RMB 7.109