Chinese domestic PPGI prices move up

Friday, 16 July 2021 17:58:26 (GMT+3)   |   Shanghai
       

During the week ending July 16, 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

7,550

+83

1,167

+14

0.426 x 1,000

CGCC

7,650

+83

1,182

+14

13 percent VAT is included in all prices and all prices are ex-warehouse. 

During the given week, PPGI prices have risen amid increasing HRC futures prices and expected production restrictions. Bullish sentiments have prevailed among market players, exerting a positive impact on the PPGI market. However, demand for PPGI has not seen a significant improvement, and so prices may fluctuate within a limited range in the coming week.

As of July 16, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,952/mt ($920/mt), up RMB 157/mt ($24.3/mt) or 2.7 percent from RMB 5,795/mt on July 9.

$1 = RMB 6.4705


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