During the week ending April 3, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved sideways compared to March 27, while transaction activity in the domestic market has been at low-to-medium levels.
Offer prices of ex-China PPGI have been heard at $610-635/mt, remaining stable on average compared to March 27.
Average PPGI prices in the local Chinese market are presented in the following table.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,763 | - | 691 | - |
| 0.426 x 1,000 | CGCC | 4,923 | - | 715 | - |
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 moved sideways amid the support from raw materials. Meanwhile, inventories of PPGI have continued their downtrend, bolstering prices firmly. The rainy weather in Yangtze River Delta area and southern China has temporarily dampened the demand for PPGI. With the full rebound of temperatures in April, the seasonal demand uptick in another month of the peak season will manifest progressively, which will result in a rebounding trend in PPGI prices after the Tomb-Sweeping Day holiday (April 4-6).
As of April 3, HRC futures at Shanghai Futures Exchange are standing at RMB 3,285/mt ($478/mt), decreasing by RMB 14/mt ($2/mt) or 0.4 percent since March 27, while down 0.24 percent compared to the previous trading day, April 2.
$1 = RMB 6.8929
