During the week ending April 25, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down, 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 $605-615/mt, moving sideways on average compared to that recorded on April 18.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
4,887 |
-17 |
678 |
-2 |
0.426 x 1,000 |
CGCC |
5,063 |
-17 |
703 |
-2 |
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 declined as transaction activities have been slacker than expected. Though inventory of PPGI has decreased slightly, buyers have been less willing to book orders for delivery in April, negatively affecting the market. It is expected that PPGI prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of April 25, HRC futures at Shanghai Futures Exchange are standing at RMB 3,204/mt ($445/mt), increasing by RMB 23/mt (8.5/mt) or 0.7 percent since April 18, while down 0.31 percent compared to the previous trading day, April 24.
$1 = RMB 7.2066
