During the week ending May 20, 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 between $930-960/mt, moving sideways week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,200 |
- |
1,068 |
-17 |
0.426 x 1,000 |
CGCC |
7,280 |
- |
1,080 |
-18 |
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 tight supplies and the support from raw material prices. HRC futures prices at Shanghai Futures Exchange (SHFE) have bottomed up over the past two trading days, bolstering PPGI prices to some extent. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of May 20, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,770/mt ($708/mt), up RMB 3/mt ($0.4/mt) or 0.06 percent from RMB 4,767/mt on May 13.
$1 = RMB 6.7487