During the week ending April 11, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have continued their downtrend, 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 in the range of $600-610/mt, down $5/mt on average compared to March 28.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
4,903 |
-33 |
680 |
-5 |
0.426 x 1,000 |
CGCC |
5,080 |
-33 |
705 |
-5 |
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 seen decreases amid the prevailing cautious sentiments among market participants. The US imposed reciprocal tariffs on China, with the tariff duties in total exceeding 100 percent, exerting a significantly negative impact on market sentiments. Meanwhile, HRC futures prices have decreased, weakening the support for PPGI prices. It is expected that PPGI prices in the Chinese domestic market will likely edge down in the coming week.
As of April 11, HRC futures at Shanghai Futures Exchange are standing at RMB 3,242/mt ($450/mt), decreasing by RMB 132/mt ($18.3/mt) or 3.9 percent since March 28, while down 0.12 percent compared to the previous trading day, April 10.
$1 = RMB 7.2087
