During the week ending July 30, 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 |
+33 |
1,169 |
+6 |
0.426 x 1,000 |
CGCC |
7,650 |
+33 |
1,184 |
+6 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have seen slight rises amid the increasing HRC futures prices. However, demand for PPGI has been slack, while downstream users have mostly held a wait-and-see stance towards prospects for the market. It is expected that PPGI prices in the Chinese domestic market will likely move sideways in the coming week.
As of July 30, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 6,169/mt ($955/mt), up RMB 201/mt ($31.1/mt) or 3.37 percent from RMB 5,968/mt on July 23.
$1 = RMB 6.4602