During the week ending February 9, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved sideways, 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 $685-740/mt, edging down by $15/mt on average compared to February 2.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,723 |
- |
806 |
- |
|
0.426 x 1,000 |
CGCC |
5,783 |
- |
814 |
- |
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 remained unchanged as market players left the market for the Chinese New Year holiday. Demand from downstream users has been sluggish, while cautious sentiments have prevailed among market players. It is expected that PPGI prices in the Chinese domestic market will rebound after the holiday.
As of February 8, HRC futures prices at the Shanghai Future Exchange are standing at RMB 3,984/mt ($561/mt), decreasing by RMB 20/mt ($3/mt) or 0.5 percent compared to February 1, while indicating a rise of 0.61 percent compared to the previous trading day (February 7).
$1 = RMB 7.1036