During the week ending July 3, 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 |
5,913 |
+50 |
837 |
+10 |
0.426 x 1,000 |
CGCC |
6,033 |
+50 |
854 |
+10 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, local PPGI prices have moved up, while transaction activities have not seen any significant improvement due to the influence of the Dragon Boat Festival (June 25-27). Market players have mentioned that supply is still tight, bolstering PPGI prices. Meanwhile, inventory of PPGI has been relatively low, providing support for PPGI prices. It is expected that PPGI prices in the Chinese domestic market will move sideways in the coming week.
As of July 3, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,606/mt ($510.5/mt), down RMB 53/mt ($7.5/mt) or 1.4 percent from RMB 3,659/mt on June 19.
$1 = RMB 7.0638
