During the week ending December 30, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved on a rising trend, though 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 $740-750/mt, moving sideways week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,896 |
+23 |
847 |
+6 |
0.426 x 1,000 |
CGCC |
5,956 |
+23 |
855 |
+5 |
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 indicated certain rises amid tight supply to the spot market due to the mass Covid-19 infections, which reduced PPGI producers’ capacity utilization rates. However, demand for PPGI has remained slack in the traditional winter offseason, and this situation will continue in the near future. It is expected that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of December 30, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,143/mt ($595/mt), up RMB 98/mt ($14.1/mt) or 2.4 percent from RMB 4,045/mt on December 23.
$1 = RMB 6.9646