During the week ending May 6, 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 $990-1,010/mt, remaining stable week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,200 |
- |
1,085 |
-4 |
0.426 x 1,000 |
CGCC |
7,280 |
- |
1,098 |
-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 moved sideways due to the Labor Day holiday (April 30-May 4). Market players have mostly held a wait-and-see stance towards the future market prospects. Inventory levels of PPGI indicated a declining trend amid tight supplies. It is expected that PPGI prices in the Chinese domestic market will move sideways in the coming week.
As of May 6, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,830/mt ($728/mt), down RMB 166/mt ($25/mt) or 3.32 percent from RMB 4,996/mt on April 29.
$1 = RMB 6.6332
