During the week ending February 28, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved sideways, while transaction activity in the domestic market has been at low levels. 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 |
5,780 |
0 |
825 |
+2 |
0.426 x 1,000 |
CGCC |
5,900 |
0 |
842 |
+2 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, downstream users have gradually resumed production, boosting demand for PPGI to some extent. However, traffic and transportation disruptions and rising inventory levels of PPGI have continued to exert a negative impact on the PPGI market.
As of February 28, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,377/mt ($482/mt), down RMB 107/mt ($15.3/mt) or 3.07 percent from RMB 3,484/mt on February 21.
$1 = RMB 7.0066
