During the week ending June 10, 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.
Offer prices of ex-China PPGI have been heard between $930-950/mt, edging up by $5/mt week on week.
Average PPGI prices in the local Chinese market are presented in the following table:
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
7,200 |
- |
1,076 |
+7 |
0.426 x 1,000 |
CGCC |
7,280 |
- |
1,088 |
+7 |
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 sideways amid the fluctuating trend seen in HRC futures prices. Currently, some regions have still been negatively affected by the Covid-19 restriction measures, though there has been an improvement compared to the previous period. It is thought that PPGI prices may rise slightly in the coming week.
As of June 10, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,880/mt ($728.5/mt), up RMB 35/mt ($5.2/mt) or 0.72 percent from RMB 4,845/mt on June 6.
$1 = RMB 6.6994
