During the week ending July 9, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have edged up, 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 |
7,466 |
+66 |
1,153 |
+9 |
|
0.426 x 1,000 |
CGCC |
7,566 |
+66 |
1,168 |
+9 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have risen slightly. Ferrous metal futures prices have edged up, bolstering market players’ sentiments as regards the prospects for the PPGI market. However, demand from downstream users has remained slack, weakening support for PPGI prices. It is thought that PPGI prices may move sideways in the coming week.
As of July 9, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,795/mt ($896/mt), up RMB 377/mt ($58.3/mt) or 6.95 percent from RMB 5,418/mt on July 2.
$1 = RMB 6.4755