During the week ending December 22, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have seen slight rises, 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 between $700-750/mt, remaining stable on average compared to that recorded on December 15.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,770 |
7 |
813 |
1 |
|
0.426 x 1,000 |
CGCC |
5,830 |
7 |
822 |
1 |
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 the increasing HRC futures prices. The heavy snow in northern China and extremely cold weather in eastern China exerted a negative impact on the demand for PPGI. However, iron ore prices have seen rises and coke prices have been at relatively high level, bolstering PPGI prices from cost side. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of December 22, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,120/mt ($580/mt), up by RMB 87/mt ($12.3/mt) or increasing by 2.2 percent from RMB 4,033/mt on December 15, while indicated a rise of 1.23 percent compared to the previous trading day (December 21).
$1 = RMB 7.0953