During the week ending February 21, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have continued their stable trend, while transaction activity in the domestic market has been at low levels. Average PPGI prices in the local Chinese market are presented in the following table.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,780 |
0 |
823 |
-5 |
0.426 x 1,000 |
CGCC |
5,900 |
0 |
840 |
-5 |
All prices include 13 percent VAT and are ex-warehouse.
During the given week, most traders have not returned to the market yet due to the coronavirus, which has contributed to the stable trend seen in PPGI prices. Meanwhile, inventories in the PPGI market have risen, though remaining at relatively low levels, which will bolster PPGI prices to some extent. It is expected that PPGI prices in the Chinese market will move sideways in the coming week.
As of February 21, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,484/mt ($496.2/mt), up RMB 74/mt ($10.5/mt) or 2.2 percent from RMB 3,410/mt on February 14.
$1 = RMB 7.021
