During the week ending June 17, average prices of pre-painted galvanized iron (PPGI) for thick specifications in the Chinese domestic market have declined, though prices have remained stable for thin specifications, 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 $910-940/mt, edging down by $15/mt week on week.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
7,166 |
-34 |
1,071 |
-5 |
|
0.426 x 1,000 |
CGCC |
7,280 |
- |
1,088 |
- |
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 for thick specifications, though remaining stable for thin specifications. Inventory levels have declined, while demand for PPGI has been slack. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of June 17, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,453/mt ($664.6/mt), down RMB 427/mt ($61.1/mt) or 8.75 percent from RMB 4,880/mt on June 10.
$1 = RMB 6.6923