During the week ending June 30, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down, though 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 $725-730/mt, edging down by $2.5/mt compared to last week.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,690 |
-17 |
787 |
-2 |
|
0.426 x 1,000 |
CGCC |
5,750 |
-17 |
796 |
-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 edged down slightly amid the prevailing cautious sentiments among market players. Though part of raw material prices edged down, PPGI producers’ profitability fluctuated at the edge of the profit and loss line. Ahead of the Dragon Boat Festival holiday, producers received some orders and they even thought about raising prices for PPGI, while buyers only made necessary purchases following the holiday, exerting a negative impact on PPGI prices. It is expected that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of June 30, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,825/mt ($529mt), down RMB 74/mt ($10.2/mt) or 1.9 percent from RMB 3,899/mt on June 16.
$1 = RMB 7.2258