During the week ending March 31, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have remained stable, 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 $835-845/mt, moving sideways compared to last week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
6,127 |
- |
892 |
-4 |
0.426 x 1,000 |
CGCC |
6,187 |
- |
900 |
-5 |
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 the support from the high levels of raw material prices, while transaction activities have not been as good as market players had expected. The inventory of PPGI has risen slightly, though market participants think demand for PPGI is likely to improve in the coming week. It is expected that PPGI prices in the Chinese domestic market will edge up slightly in the coming week.
As of March 31, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,292/mt ($625/mt), up RMB 39/mt ($5.7/mt) or 0.9 percent from RMB 4,253/mt on March 24.
$1 = RMB 6.8717
