During the week ending February 18, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have increased, 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 $970-1,020/mt, moving sideways week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,013 |
+50 |
1,107 |
+14 |
0.426 x 1,000 |
CGCC |
7,130 |
+50 |
1,126 |
+14 |
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 risen amid improved demand and rebounding HRC futures prices. Meanwhile, bullish sentiments have started to prevail among market players, exerting a positive impact on PPGI prices. It is expected that PPGI prices in the Chinese domestic market will increase in the coming week.
As of February 18, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,907/mt ($774/mt), down RMB 126/mt ($20/mt) or 2.5 percent from RMB 5,033/mt on February 10.
$1 = RMB 6.3343
