During the week ending July 23, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down, 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 |
7,516 |
-34 |
1,163 |
-4 |
|
0.426 x 1,000 |
CGCC |
7,616 |
-33 |
1,178 |
-4 |
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 declined slightly amid the fluctuating trend in HRC futures prices and the prevailing cautious sentiments among market players. Demand for PPGI has remained slack during the traditional offseason. The floods in the provinces of Henan and Hebei and the approach of the typhoon In-Fa have exerted a negative impact on the PPGI market. It is thought that PPGI prices in the Chinese domestic market may edge down in the coming week.
As of July 23, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,968/mt ($923/mt), up RMB 16/mt ($2.5/mt) or 0.27 percent from RMB 5,952/mt on July 16.
$1 = RMB 6.465