During the week ending December 19, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved sideways 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 $550-590/mt, moving sideways on average compared to December 12.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,740 | - | 671 | - |
| 0.426 x 1,000 | CGCC | 4,900 | - | 694 | - |
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 amid increasing HRC futures prices. Transactions have mostly been done for relatively low-priced materials. Market players are cautious as regards the future prospects for the PPGI market. It is expected that PPGI prices in the Chinese domestic will fluctuate within a limited range in the coming week.
As of December 19, HRC futures at Shanghai Futures Exchange are standing at RMB 3,269/mt ($463/mt), increasing by RMB 37/mt ($5.2/mt) or 1.1 percent since December 12, while declining by 0.24 percent compared to the previous trading day, December 18.
$1 = RMB 7.055