During the week ending December 2, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down slightly, 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 in the range of $700-710/mt, remaining stable week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,770 |
-10 |
818 |
+8 |
0.426 x 1,000 |
CGCC |
5,830 |
-10 |
826 |
+7 |
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 edged down amid Covid-19 restriction measures and the prevailing cautious sentiments among market players. However, inventory levels of PPGI have declined, providing support for prices. At the same time, raw material prices have been at relatively high levels, which will bolster PPGI prices in the coming period. It is expected that PPGI prices in the Chinese domestic market will likely continue to fluctuate within a limited range in the coming week.
As of December 2, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,918/mt ($555.4/mt), up RMB 83/mt ($11.8/mt) or 2.16 percent from RMB 3,835/mt on November 25.
$1 = RMB 7.0542