During the week ending January 19, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down slightly, though 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 in the range of $700-740/mt, edging down by $5/mt on average compared to that recorded on January 12.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,773 |
-4 |
812 |
-2 |
|
0.426 x 1,000 |
CGCC |
5,833 |
-4 |
820 |
-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 a slight downtrend amid the prevailing cautious sentiments among market players. Downstream users are preparing to go on holiday at the end of this month, which will exert a negative impact on demand for PPGI. However, import iron ore prices have edged up again since January 18 amid rebounding futures prices, which will bolster PPGI prices from the cost side. It is expected that PPGI prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
As of January 19, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,032/mt ($567/mt), up by RMB 6/mt ($0.8/mt) or rising by 0.15 percent from RMB 4,026/mt on January 12, while indicated an increase of 0.62 percent compared to the previous trading day (January 18).
$1 = RMB 7.1167