During the week ending April 22, 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 $1,010-1,030/mt, edging down by $5/mt week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,186 |
- |
1,114 |
-12 |
0.426 x 1,000 |
CGCC |
7,286 |
- |
1,129 |
-13 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have moved sideways amid relatively low inventory levels. At the same time, market players started to hold an optimistic attitude towards the prospects for the future steel market as they think that the lockdown in Shanghai and control measures in other regions may ease in the near future. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of April 22, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,074/mt ($787/mt), down RMB 124/mt ($0.47/mt) or 2.4 percent from RMB 5,198/mt on April 15.
$1 = RMB 6.4596
