During the week ending April 19, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated slight increases, 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 $670-690/mt FOB, moving up by $15/mt compared to that recorded on April 12.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,543 |
+6 |
780 |
+1 |
|
0.426 x 1,000 |
CGCC |
5,620 |
+23 |
789 |
+3 |
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 risen slightly amid increasing HRC futures prices. PPGI producers’ capacity utilization rates have also increased, while inventory levels have continued to decrease, reflecting better demand. However, the demand from downstream users has not improved as well as market players had expected, while rising production costs have bolstered PPGI prices to a certain degree. It is thought that PPGI prices in the Chinese domestic market will continue their slight uptrend in the coming week.
As of April 19, HRC futures at Shanghai Futures Exchange are standing at RMB 3,835/mt ($540/mt), increasing by RMB 56/mt ($8/mt) or 1.5 percent since April 12, while down 0.26 percent compared to the previous trading day, April 18.
$1 = RMB 7.1046