During the week ending June 4, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated slight declines, 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.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
7,013 |
-17 |
1095 |
-6 |
|
0.426 x 1,000 |
CGCC |
7,133 |
-20 |
1113 |
-7 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have declined slightly amid prevailing cautious sentiments. Downstream users have mostly held a wait-and-see stance, and so transaction activities have been at low-to-medium levels. HRC futures prices have rebounded in the week in question, bolstering PPGI prices to some extent. It is thought that PPGI prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
As of June 4, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,434/mt ($848/mt), up RMB 106/mt ($16.6/mt) or 2.0 percent from RMB 5,328/mt on May 28.
$1 = RMB 6.4072