During the week ending April 29, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved on a fluctuating trend within a limited range, 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 $990-1,010/mt, moving down by $20/mt week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,200 |
+14 |
1,089 |
-25 |
0.426 x 1,000 |
CGCC |
7,280 |
-6 |
1,101 |
-28 |
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 fluctuated within a limited range. Currently, the lockdown in Shanghai is continuing, while the strict control measures also in surrounding areas, exerting a negative impact on the transportation of PPGI, resulting in tight supplies, which have provided support for prices. It is thought that PPGI prices in the Chinese domestic market will move sideways in the coming week.
As of April 29, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,996/mt ($755/mt), down RMB 78/mt ($12/mt) or 1.54 percent from RMB 5,074/mt on April 22.
$1 = RMB 6.6177
