During the week ending April 1, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged up slightly, while transaction activity in the domestic market has been at low-to-medium levels.
Offer prices of ex-China PPGI have been heard between $1,020-1,050/mt, moving sideways week on week.
Average PPGI prices in the local Chinese market are presented in the following table.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,170 |
+17 |
1,129 |
+7 |
0.426 x 1,000 |
CGCC |
7,250 |
+17 |
1,141 |
+6 |
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 moved up amid increasing iron ore prices. Downstream users have chosen to buy given the rising momentum of prices. Though the market has been negatively affected by the worsening of the Covid-19 pandemic in many regions of China, market players expect a better performance in the near future. It is thought that PPGI prices in the Chinese domestic market will move up in the coming week.
As of April 1, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,319/mt ($837.6/mt), up RMB 37/mt ($5.8/mt) or 0.7 percent from RMB 5,282/mt on March 25.
$1 = RMB 6.3509
