During the week ending March 11, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated rises, 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 $1,020-1,070/mt, moving up by $10/mt week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,150 |
+27 |
1,130 |
+5 |
0.426 x 1,000 |
CGCC |
7,267 |
+27 |
1,148 |
+4 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
PPGI prices in the Chinese domestic market first indicated sharp rises, but have softened approaching the weekend following the declining trend in ferrous metal futures prices. Currently, the Covid-19 pandemic has worsened in Shanghai and other regions, which has exerted a negative impact on downstream users’ demand. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of March 11, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,137/mt ($811.5/mt), down RMB 73/mt ($11.5/mt) or 1.4 percent from RMB 5,210/mt on March 4.
$1 = RMB 6.3306
