During the week ending July 31, 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 |
5930 |
+17 |
849 |
+4 |
|
0.426 x 1,000 |
CGCC |
6050 |
+16 |
866 |
+3 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI producers’ purchasing costs have risen due to the increases seen in raw material prices, while their supply of PPGI has shrunk, thereby they have been willing to bolster their prices. Meanwhile, the inventory has been at relatively low level, also providing certain support to PPGI prices. It is thought that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of July 31, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,848/mt ($551/mt), up RMB 81/mt ($11.6/mt) or 2.15 percent from RMB 3,767/mt on July 24.
$1 = RMB 6.9848