During the week ending July 24, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have remained stable, 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 |
5,913 |
0 |
845 |
- |
|
0.426 x 1,000 |
CGCC |
6,033 |
0 |
863 |
- |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, inventory of PPGI in China has been relatively low, bolstering prices. However, demand has been sluggish given the hot summer season, exerting a negative impact on PPGI prices. Some traders have become more willing to lower sales prices to close deals.
As of July 24, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,767/mt ($539/mt), up RMB 15/mt ($2.1/mt) or 0.4 percent from RMB 3,752/mt on July 17.
$1 = RMB 6.9938