During the week ending July 7, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated slight rises, 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 in the range of $725-730/mt, moving sideways compared to last week.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
5,697 |
7 |
791 |
1 |
|
0.426 x 1,000 |
CGCC |
5,757 |
7 |
799 |
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 seen slight rises amid rising raw material prices. Demand for PPGI has improved to certain degree, bolstering market sentiments. At the same time, PPGI producers’ capacity utilization rates have decreased slightly, while still at relatively high levels. It is expected that PPGI prices in the Chinese domestic market will move sideways in the coming week.
As of July 7, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,766/mt ($523mt), down RMB 59/mt ($8.2/mt) or 1.5 percent from RMB 3,825/mt on June 30.
$1 = RMB 7.2054