During the week ending June 11, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved sideways, 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 |
0 |
1,098 |
+3 |
|
0.426 x 1,000 |
CGCC |
7,133 |
0 |
1,117 |
+4 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have moved on a stable trend as buyers have mostly been cautious as regards the future prospects for the market. It has entered the rainy season in eastern China, resulting in slack demand for PPGI. It is thought that PPGI prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
As of June 11, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,610/mt ($878.5/mt), up RMB 176/mt ($27.6/mt) or 3.24 percent from RMB 5,434/mt on June 4.
$1 = RMB 6.3856