During the week ending April 16, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged up, 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.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
6,756 |
+33 |
1,035 |
+7 |
0.426 x 1,000 |
CGCC |
6,876 |
+33 |
1,053 |
+7 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, HRC futures prices have edged up slightly following the declines seen in the previous week, bolstering PPGI prices. Meanwhile, inventory of PPGI has been at a relatively low level, also exerting a positive impact on prices. It is expected that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of April 16, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,413/mt ($829/mt), down RMB 47/mt ($7.2/mt) or 0.86 percent from RMB 5,460/mt on April 9.
$1 = RMB 6.5409
