During the week ending June 20, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated further declines, 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 between $580-585/mt, down by $10/mt on average compared to that recorded on June 13.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
4,810 |
-10 |
671 |
-1 |
0.426 x 1,000 |
CGCC |
4,987 |
-10 |
695 |
-1 |
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 edged down amid the slack demand from downstream users. The continuous widespread rainy weather in southern and eastern China and high temperature exerted a negative impact on the demand for PPGI. However, the inventory of PPGI has indicated slight decreases, providing certain support to its prices. It is expected that PPGI prices in the Chinese domestic market will soften in the coming week.
As of June 20, HRC futures at Shanghai Futures Exchange are standing at RMB 3,116/mt ($433/mt), increasing by RMB 34/mt (4.7/mt) or 1.1 percent since June 13, while up 0.39 percent compared to the previous trading day, June 19.
$1 = RMB 7.1695
