During the week ending January 20, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved sideways, though 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 $785-795/mt, remaining stable week on week as market players sealed the deal for holiday.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,896 |
- |
847 |
- |
|
0.426 x 1,000 |
CGCC |
5,956 |
- |
855 |
- |
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 proximity of the Chinese New Year holiday (January 21-27). Market players have exited the market for the holiday, resulting in quiet transaction activities. As for the PPGI market, market participants expect a good performance in the future as China aims to boost economic development in 2023. It is expected that PPGI prices in the Chinese domestic market will remain stable in the coming week.
As of January 20, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,201/mt ($620.5/mt), down RMB 1/mt ($0.15/mt) from RMB 4,202/mt on January 13.
$1 = RMB 6.7702