During the week ending March 28, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down, 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 $605-615/mt, moving sideways on average compared to March 21.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,937 | -17 | 688 | -2 |
| 0.426 x 1,000 | CGCC | 5,113 | -17 | 713 | -2 |
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 relatively high supply levels. Inventories of PPGI have declined slightly given the improved demand from downstream users, while cautious sentiments have still affected the market. As April is about to begin, another month of the traditional peak season for business, demand from downstream users is expected to be moderate, though likely weaker than in March. It is expected that PPGI prices in the Chinese domestic market will edge down slightly in the coming week.
As of March 28, HRC futures at Shanghai Futures Exchange are standing at RMB 3,374/mt ($471/mt), increasing by RMB 23/mt (3.2/mt) or 0.7 percent since March 21, while down 0.12 percent compared to the previous trading day, March 27.
$1 = RMB 7.1752
