During the week ending July 12, 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 $645-665/mt, decreasing by $2.5/mt compared to that recorded on July 5.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,517 |
- |
774 |
- |
0.426 x 1,000 |
CGCC |
5,677 |
- |
797 |
- |
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 remained unchanged, while consumption of inventory has been proceeding slowly. The supply of PPGI has declined slightly, while demand from downstream users has been slack. Baosteel issued its prices for delivery in August, keeping its PPGI prices stable, bolstering market sentiments to a certain degree. It is expected that PPGI prices in the Chinese domestic market will edge down slightly in the coming week.
As of July 12, HRC futures at Shanghai Futures Exchange are standing at RMB 3,709/mt ($520/mt), decreasing by RMB 50/mt ($7.0/mt) or 1.3 percent since July 5, while up 0.27 percent compared to the previous trading day, July 11.
$1 = RMB 7.1315
