During the week ending March 29, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated slight decreases, 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 at $650-680/mt, moving sideways compared to March 22.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,563 |
-7 |
784 |
-1 |
|
0.426 x 1,000 |
CGCC |
5,623 |
-7 |
793 |
-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 seen slight declines amid the slow decreases in inventory levels. At the same time, HRC futures prices have moved down, exerting a negative impact on PPGI market. Bearish sentiments have prevailed among market players again. It is expected that thought prices in the Chinese domestic market will see further decreases in the coming week.
As of March 29, HRC futures at Shanghai Futures Exchange are standing at RMB 3,625/mt ($538/mt), decreasing by RMB 197/mt ($28/mt) or 5.2 percent since March 22, while down 2.0 percent compared to the previous trading day, March 28.
$1 = RMB 7.0965