During the week ending February 7, 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 $600-635/mt FOB, moving sideways on average compared to January 24.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
4,967 |
- |
693 |
+2 |
0.426 x 1,000 |
CGCC |
5,143 |
- |
717 |
+2 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given period, PPGI prices in the Chinese domestic market have remained stable amid the impact of the Chinese New Year holiday. Market players are only gradually coming back to the market, resulting in quiet transaction activities. However, the demand for PPGI from downstream users is expected to improve in the coming period. It is expected that PPGI prices in the Chinese domestic market will rebound in the coming week.
As of February 7, HRC futures at Shanghai Futures Exchange are standing at RMB 3,449/mt ($481/mt), decreasing by RMB 24/mt ($3/mt) or 0.7 percent since January 24, while up 0.44 percent compared to the previous trading day, February 6.
$1 = RMB 7.1699