During the week ending February 10, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved up, 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 $795-805/mt, edging up by $10/mt compared to the level ahead of the long holiday.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,940 |
+43 |
875 |
+6 |
0.426 x 1,000 |
CGCC |
6,000 |
+43 |
884 |
+6 |
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 seen slight rises, while the demand has not improved to normal levels yet. A wait-and-see stance has prevailed among market players. PPGI producers have gradually resumed production, resulting in rising capacity utilization rates. Currently, raw material prices are at relatively high levels, which has bolstered PPGI prices from the cost side. It is thought that PPGI prices in the Chinese domestic market will likely edge up in the coming week.
As of February 10, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,141/mt ($610/mt), up RMB 57/mt ($8.4/mt) from RMB 4,084/mt on February 3.
$1 = RMB 6.7884
