During the week ending April 8, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved up, 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 $1,020-1,050/mt, remaining stable week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,186 |
+16 |
1,129 |
0 |
0.426 x 1,000 |
CGCC |
7,286 |
+36 |
1,145 |
+4 |
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 up slightly amid the supply shortage due to the negative impact of the spreading Covid-19 pandemic. Shanghai’s lockdown has continued, and the surrounding regions have also implemented strict control measures, which have exerted a negative impact on demand for PPGI. However, PPGI producers in northern China have raised their ex-works prices, bolstering the market. It is thought that PPGI prices may move sideways in the coming week.
As of April 8, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,195/mt ($816.2/mt), down RMB 124/mt ($19.5/mt) or 2.33 percent from RMB 5,319/mt on April 1.
$1 = RMB 6.3653
