During the week ending November 25, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated a slight downtrend, 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 $700-710/mt, moving sideways week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,780 |
-16 |
810 |
+4 |
0.426 x 1,000 |
CGCC |
5,840 |
-16 |
819 |
+5 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, average PPGI prices in the Chinese domestic market have edged down slightly amid decreases in the Shanghai market, though moving sideways in Guangzhou and Boxing. Currently, inventory of PPGI is at relatively low levels, which has bolstered prices to some extent. However, the spreading Covid-19 pandemic in many regions of China has exerted a negative impact on the PPGI market. It is expected that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of November 25, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,835/mt ($537.6/mt), up RMB 28/mt ($3.9/mt) or 0.74 percent from RMB 3,807/mt on November 18.
$1 = RMB 7.1339