During the week ending July 1, 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.
Offer prices of ex-China PPGI have been heard between $830-850/mt, moving down by $50/mt week on week.
|
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
|
0.476 x 1,000 |
CGCC |
6,966 |
- |
1,039 |
- |
|
0.426 x 1,000 |
CGCC |
7,080 |
- |
1,056 |
- |
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, though the rebounding trends in HRC and CRC prices have not affected PPGI prices yet. Meanwhile, market sentiment has improved to a certain degree after HRC futures prices bottomed up. However, since July is the traditional offseason for the steel industry, the PPGI prices in the Chinese domestic market may fluctuate within a limited range in the coming week.
As of July 1, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 4,311/mt ($644.4/mt), up RMB 60/mt ($9.0/mt) or 1.4 percent from RMB 4,251/mt on June 24.
$1 = RMB 6.6863