During the week ending January 28, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have remained stable, 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 between $920-960/mt, moving sideways week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
6,870 |
0 |
1,078 |
-4 |
0.426 x 1,000 |
CGCC |
6,986 |
0 |
1,096 |
-4 |
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 a stable trend amid the slack demand from downstream users as the Chinese New Year holiday is about to start. Most traders have already left for the holiday, exerting a negative impact on the PPGI market. It is expected that PPGI prices in the Chinese domestic market will move sideways in the coming week.
As of January 28, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,945/mt ($776.3/mt), up RMB 123/mt ($19.3/mt) or 2.55 percent from RMB 4,822/mt on January 21.
$1 = RMB 6.3746