During the week ending June 5, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved up, 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 |
5863 |
+67 |
826 |
+13 |
0.426 x 1,000 |
CGCC |
5983 |
+67 |
843 |
+13 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, raw material prices have moved up, pushing up local PPGI prices. Meanwhile, demand has been good, easing the pressure from the inventory side. However, ferrous metal futures prices have softened over the past three trading days, which will likely exert a negative impact on PPGI prices in the coming week.
As of June 5, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,515/mt ($495/mt), down RMB 27/mt ($3.8/mt) or 0.76 percent from RMB 3,542/mt on May 29.
$1 = RMB 7.0965
