During the week ending July 3, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down further compared to June 26 amid slack demand, while transaction activity in the domestic market has been at low-to-medium levels.
Offer prices of ex-China PPGI have been heard at $600-640/mt, down $5/mt on average compared to June 26.
Average PPGI prices in the local Chinese market are presented in the following table.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,740 | -17 | 697 | -2 |
| 0.426 x 1,000 | CGCC | 4,900 | -17 | 720 | -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 amid declining HRC futures prices. Heavy rainfall has hit eastern and southern China, negatively affecting demand for PPGI. Transaction activities have been quieter than in the previous week, weakening the support for PPGI prices. Cautious sentiments have prevailed among market players. It is expected that PPGI prices in the Chinese domestic market will continue to fluctuate within a limited range in the coming week.
As of July 3, HRC futures at Shanghai Futures Exchange are standing at RMB 3,074/mt ($452/mt), decreasing by RMB 31/mt ($4.6/mt) or 1.0 percent since June 26, while decreasing by 0.3 percent compared to the previous trading day, July 2.
$1 = RMB 6.8047
