During the week ending July 11, 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.
Offer prices of ex-China PPGI have been heard at $585-595/mt, moving sideways on average compared to July 4.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,800 | - | 672 | +1 |
| 0.426 x 1,000 | CGCC | 4,977 | - | 696 | - |
13 percent VAT is included in all prices and all prices are ex-warehouse.
During the given week, PPGI prices in the Chinese domestic market have moved sideways amid increasing HRC futures prices and slack demand from downstream users in the traditional off-season. Inventory of PPGI has not been at high levels, which may provide support for prices when demand from downstream users improves. It is thought that PPGI prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
As of July 11, HRC futures at Shanghai Futures Exchange are standing at RMB 3,273/mt ($458/mt), increasing by RMB 71/mt ($9.9/mt) or 2.2 percent since July 4, while up 1.24 percent compared to the previous trading day, July 10.
$1 = RMB 7.1475