During the week ending May 13, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have remained stable, 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 $930-960/mt, moving down by $55/mt week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,200 |
- |
1,085 |
-24 |
0.426 x 1,000 |
CGCC |
7,280 |
- |
1,098 |
-25 |
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 amid declining HRC futures prices. Inventories of PPGI have decreased compared to last week, bolstering prices to some extent. At the same time, major Chinese steelmaker Baosteel announced that it will keep its PPGI prices stable for delivery in June this year, also providing support for the market. It is thought that PPGI prices may fluctuate within a limited range in the coming week.
As of May 13, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,767/mt ($701/mt), down RMB 63/mt ($9.3/mt) or 1.3 percent from RMB 4,830/mt on May 6.
$1 = RMB 6.7898
