During the week ending November 19, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved 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.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,126 |
-183 |
1,116 |
-25 |
0.426 x 1,000 |
CGCC |
7,243 |
-183 |
1,135 |
-24 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
Offer prices of ex-China PPGI have also decreased, following declines in CRC and HDG prices in the export market, standing at $945-975/mt FOB, moving down by $25/mt week on week.
During the given week, PPGI prices in the Chinese domestic market have seen big declines amid the continuous decreasing trend in ferrous metal futures prices. Raw material prices have declined, exerting a negative impact on PPGI prices. Demand for PPGI has remained slack, which has also negatively affected market players’ sentiments. It is expected that PPGI prices in the Chinese domestic market will likely edge down in the coming week.
As of November 19, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,463/mt ($699/mt), down RMB 84/mt ($13.2/mt) or 1.85 percent from RMB 4,547/mt on November 12.
$1 = RMB 6.3825
