During the week ending May 27, 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 $920-950/mt, edging down by $10/mt week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,200 |
- |
1,069 |
+2 |
0.426 x 1,000 |
CGCC |
7,280 |
- |
1,081 |
+1 |
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. HRC futures prices at Shanghai Futures Exchange (SHFE) edged down, exerting a negative impact on the PPGI market. However, the tight supplies in the PPGI market bolstered prices. It is expected that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of May 27, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,698/mt ($697/mt), down RMB 72/mt ($10.7/mt) or 1.5 percent from RMB 4,770/mt on May 20.
$1 = RMB 6.7387
