During the week ending November 21, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have remained stable compared to the previous week, 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 at $565-605/mt, down $5/mt on average compared to November 14.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,763 | - | 673 | - |
| 0.426 x 1,000 | CGCC | 4,923 | - | 695 | - |
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 the fluctuating trend of HRC futures prices. Though the demand for PPGI from downstream users has been sluggish, inventories have been at relatively low levels, bolstering prices to a certain degree. Market players mostly hold cautious sentiments as regards the future prospects for the PPGI market, which might exert a negative impact on prices. It is expected that PPGI prices in the Chinese domestic market will see slight declines in the coming week.
As of November 21, HRC futures at Shanghai Futures Exchange are standing at RMB 3,270/mt ($461/mt), increasing by RMB 14/mt ($2.0/mt) or 0.4 percent since November 14, while remaining stable compared to the previous trading day, November 20.
$1 = RMB 7.0875
