During the week ending December 20, 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 $595-630/mt FOB, decreasing by $10/mt on average compared to that recorded on December 13.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
4,950 |
- |
689 |
- |
0.426 x 1,000 |
CGCC |
5,110 |
- |
711 |
- |
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 remained stable as inventory of PPGI has seen slight declines and are lower than the levels recorded in the same period last year. Demand for PPGI from downstream users has been slack amid the cold weather in northern China, while the support from raw materials and short supply of some specifications have bolstered PPGI prices to a certain degree. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of December 20, HRC futures at Shanghai Futures Exchange are standing at RMB 3,410/mt ($467/mt), decreasing by RMB 81/mt ($11.3/mt) or 2.3 percent since December 13, while down 0.47 percent compared to the previous trading day, December 19.
$1 = RMB 7.1901
