During the week ending December 13, 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 in the range of $605-640/mt FOB, increasing by $5/mt on average compared to December 6.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
4,950 |
- |
689 |
- |
0.426 x 1,000 |
CGCC |
5,110 |
- |
711 |
- |
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 as major Chinese steelmaker Baosteel kept its local base price for PPGI stable for delivery in January next year. China has stated it will implement a “moderately loose” monetary policy in 2025, changing its monetary policy stance for the first time since 2011, bolstering market sentiments to a certain degree. However, demand for PPGI has gradually slackened towards the end of the year, while market players mostly chose to hold a wait-and-see stance. It is thought that PPGI prices in the Chinese domestic market will likely continue to fluctuate within a limited range in the coming week.
As of December 13, HRC futures at Shanghai Futures Exchange are standing at RMB 3,491/mt ($486/mt), increasing by RMB 37/mt ($5.2/mt) or 1.1 percent since December 6, while down 1.88 percent compared to the previous trading day, December 12.
$1 = RMB 7.1876
