During the week ending April 15, 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.
Offer prices of ex-China PPGI have been heard between $1,010-1,040/mt, edging down 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 |
7,186 |
0 |
1,126 |
-3 |
0.426 x 1,000 |
CGCC |
7,286 |
0 |
1,142 |
-3 |
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 remained stable amid the stable trend in inventory levels. At the same time, HRC futures prices have seen slight rises, bolstering PPGI prices to some extent. The lockdown in Shanghai and the Covid-19 restriction measures in other regions of China have continued, which will exert a negative impact on PPGI prices in the near future. However, market players still look forward to an improvement in demand for PPGI in what is usually the traditional peak business season for the steel industry, also when Covid-19 restrictions start to ease.
As of April 15, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,198/mt ($814/mt), up RMB 3/mt ($0.47/mt) or 0.06 percent from RMB 5,195/mt on April 8.
$1 = RMB 6.3896
