During the week ending July 2, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down slightly, 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.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,400 |
-20 |
1,144 |
-2 |
0.426 x 1,000 |
CGCC |
7,500 |
-20 |
1,159 |
-2 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have declined slightly amid slack demand from downstream users in the traditional offseason. PPGI prices have been at relatively high levels in the current year, and so buyers have been unwilling to conclude purchases. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of July 2, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,418/mt ($837.4/mt), up RMB 130/mt ($20.1/mt) or 2.5 percent from RMB 5,288/mt on June 25.
$1 = RMB 6.4712
