During the week ending December 12, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated slight decreases 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 between $550-590/mt, down $10/mt on average compared to December 5.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,740 | -10 | 671 | -1 |
| 0.426 x 1,000 | CGCC | 4,900 | -10 | 694 | -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 edged down slightly amid the prevailing cautious sentiments among market players. Demand for PPGI has remained slack during the traditional cold winter offseason, exerting a negative impact on prices. There have been insufficient orders from downstream manufacturing and construction industries, weakening the support for PPGI prices. It is thought that PPGI prices in the Chinese domestic will soften in the coming week.
As of December 12, HRC futures at Shanghai Futures Exchange are standing at RMB 3,232/mt ($457/mt), decreasing by RMB 88/mt ($12.5/mt) or 2.65 percent since December 5, while declining by 0.83 percent compared to the previous trading day, December 11.
$1 = RMB 7.0638
