During the week ending June 27, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have seen further decreases, 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 at $580-585/mt, remaining stable on average compared to June 20.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,800 | -10 | 670 | -1 |
| 0.426 x 1,000 | CGCC | 4,977 | -10 | 695 | -1 |
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 slightly amid the sluggish demand from downstream users. Meanwhile, cautious sentiments have prevailed among market players as demand in the traditional off-season will not see any significant improvement. HRC futures prices have indicated slight rises, bolstering PPGI prices to a certain degree. It is thought that PPGI prices in the Chinese domestic market will move sideways in the coming week.
As of June 27, HRC futures at Shanghai Futures Exchange are standing at RMB 3,121/mt ($436/mt), increasing by RMB 5/mt (0.7/mt) or 0.16 percent since June 20, while up 0.94 percent compared to the previous trading day, June 26.
$1 = RMB 7.1627
