During the week ending April 18, 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 at $605-615/mt, rising by $5/mt on average compared to April 11.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,903 | - | 680 | - |
| 0.426 x 1,000 | CGCC | 5,080 | - | 705 | - |
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 decreased supplies circulating in the spot market. Demand for PPGI from downstream users has been slack, while traders are mostly cautious. HRC futures prices have edged down, exerting a negative impact on PPGI prices. Since the Labor Day holiday (May 1-5) is approaching, market players think stocks may be replenished, which will support PPGI prices to a certain degree. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of April 18, HRC futures at Shanghai Futures Exchange are standing at RMB 3,181/mt ($450/mt), decreasing by RMB 61/mt (8.5/mt) or 1.9 percent since April 11, while down 0.66 percent compared to the previous trading day, April 17.
$1 = RMB 7.2069