During the week ending February 17, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged up, 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 $795-805/mt, moving sideways compared to last week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,980 |
+40 |
871 |
+6 |
0.426 x 1,000 |
CGCC |
6,040 |
+40 |
880 |
+6 |
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 edged up slightly amid the slowly recovering demand from downstream users. Actually, the market performance of PPGI has not resumed to the level that market players had expected. At the same time, inventory of PPGI has seen rises, which weakened the support to its prices. However, other steel products have seen rises in their prices, exerting a positive impact on PPGI market. It is expected that PPGI prices in the Chinese domestic market will continue to edge up slightly in the coming week.
As of February 17, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,240/mt ($618/mt), up RMB 99/mt ($14.4/mt) or 2.4 percent from RMB 4,141/mt on February 10.
$1 = RMB 6.8659
