During the week ending June 18, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have remained stable, 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 |
7,013 |
0 |
1,090 |
-8 |
|
0.426 x 1,000 |
CGCC |
7,133 |
0 |
1,108 |
-9 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices have remained stable amid the slack demand in the traditional offseason. Cautious sentiments have prevailed among market players, and so they have mostly purchased just in line with their needs. It is thought that PPGI prices may continue to move sideways in the coming week.
As of June 18, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 5,347/mt ($831.6/mt), down RMB 263/mt ($41/mt) or 4.7 percent from RMB 5,610/mt on June 11.
$1 = RMB 6.4361