During the week ending July 8, 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.
Offer prices of ex-China PPGI have been heard between $830-850/mt, moving sideways week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
6,916 |
-50 |
1,032 |
-7 |
0.426 x 1,000 |
CGCC |
7,030 |
-50 |
1,049 |
-7 |
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 high temperatures in the summer. Demand from downstream users has not seen a significant improvement, resulting in low transaction activities and prevailing cautious sentiments among market players. Some steelmakers cut their PPGI ex-works offer prices, weakening the support for prices in the spot market. It is thought that PPGI prices in the Chinese domestic market will edge down slightly in the coming week.
As of July 8, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,206/mt ($627/mt), down RMB 105/mt ($15.6/mt) or 2.4 percent from RMB 4,311/mt on July 1.
$1 = RMB 6.7098
