During the week ending December 27, 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 $595-630/mt FOB, moving sideways on average compared to that recorded on December 20.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
4,917 |
-33 |
684 |
-5 |
0.426 x 1,000 |
CGCC |
5,093 |
-17 |
708 |
-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 indicated a slight downtrend amid the decreasing HRC futures prices. Due to approaching Chinese New Year holiday (January 28-February 4), the demand for PPGI slackened, which weakened the support to its prices. Although the New Year is coming, downstream users in PPGI market have been unwilling to build up stocks for winter usage. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of December 27, HRC futures at Shanghai Futures Exchange are standing at RMB 3,400/mt ($473/mt), decreasing by RMB 10/mt ($1.4/mt) or 0.3 percent since December 20, while down 0.96 percent compared to the previous trading day, December 26.
$1 = RMB 7.1893
