During the week ending March 14, 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 $610-620/mt, edging down by $2.5/mt on average compared to March 7.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
4,987 |
- |
695 |
- |
0.426 x 1,000 |
CGCC |
5,163 |
- |
720 |
- |
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 remained stable amid increasing HRC futures prices and the rising capacity utilization rates on PPGI producers’ side. In the given period, the demand has improved more slowly than production, resulting in increasing inventory levels of PPGI, weakening the support for PPGI prices.
On March 13, the People’s Bank of China (PBOC) announced that it would cut interest rates and the reserve ratio at the right moment, which will exert a positive impact on market sentiments. Meanwhile, China’s National Development and Reform Commission has announced the implementation of crude steel production controls in 2025, and that it aims to promote the reduction and reorganization of the steel industry, which will bolster steel prices firmly. It is thought that PPGI prices in the Chinese domestic market will likely edge up in the coming week.
As of March 14, HRC futures at Shanghai Futures Exchange are standing at RMB 3,443/mt ($469/mt), increasing by RMB 80/mt (11.2/mt) or 2.4 percent since March 7, while up 1.53 percent compared to the previous trading day, March 13.
$1 = RMB 7.1738