During the week ending August 12, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged down slightly, though 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 $775-785/mt, edging up by $10/mt week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
6,193 |
-10 |
918 |
-2 |
0.426 x 1,000 |
CGCC |
6,263 |
-10 |
929 |
-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 indicated slight declines as some market players have been cautious as regards the future market prospects. Currently, the widespread hot weather has exerted a negative impact on the steel market. It is expected that PPGI prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of August 12, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,087/mt ($606/mt), up RMB 82/mt ($12.2/mt) or 2.05 percent from RMB 4,005/mt on August 5.
$1 = RMB 6.7413