During the week ending April 23, 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-to-medium 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 |
6,756 |
- |
1,041 |
+6 |
0.426 x 1,000 |
CGCC |
6,876 |
- |
1,059 |
+6 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have moved sideways amid the slack demand at current high level of prices. Meanwhile, inventory has seen slight rises due to slow consumption rate, exerting a negative impact on PPGI prices. It is expected that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of April 23, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,590/mt ($860/mt), up RMB 177/mt ($27.2/mt) or 3.3 percent from RMB 5,413/mt on April 16.
$1 = RMB 6.4934