During the week ending July 19, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have decreased, 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 $645-665/mt, remaining stable compared to that recorded on July 12.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,457 |
-60 |
765 |
-8 |
0.426 x 1,000 |
CGCC |
5,617 |
-60 |
788 |
-8 |
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 moved down amid the sluggish demand from downstream users. Inventory of PPGI has increased, negatively affecting prices. In the traditional offseason, demand for PPGI is anticipated to remain slack during the rest of July, exerting a negative impact on market sentiments. It is thought that PPGI prices in the Chinese domestic market will likely edge down further in the coming week.
As of July 19, HRC futures at Shanghai Futures Exchange are standing at RMB 3,665/mt ($514/mt), decreasing by RMB 44/mt ($6.2/mt) or 1.2 percent since July 12, while up 0.11 percent compared to the previous trading day, July 18.
$1 = RMB 7.1315
