During the week ending June 24, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have decreased, 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 $880-900/mt, moving down by $35/mt week on week.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
6,966 |
-200 |
1,039 |
-32 |
|
0.426 x 1,000 |
CGCC |
7,080 |
-200 |
1,056 |
-32 |
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 amid decreasing HRC futures prices. Meanwhile, local HRC and CRC prices have moved down sharply, also weakening the support for PPGI prices. It is thought that PPGI prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
As of June 24, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,251/mt ($634.5/mt), down RMB 202/mt ($30.1/mt) or 4.5 percent from RMB 4,453/mt on June 17.
$1 = RMB 6.70