During the week ending June 6, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have seen slight decreases, 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 $595-600/mt, edging down by $2.5/mt on average compared to that recorded on May 30.
| Specification (mm) | Category | Average price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) |
Weekly change ($/mt) |
| 0.476 x 1,000 | CGCC | 4,827 | -7 | 672 | -1 |
| 0.426 x 1,000 | CGCC | 5,003 | -7 | 696 | -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 indicated slight decreases amid slack demand from downstream users. Inventory of PPGI has seen increases, exerting a negative impact on its prices. Meanwhile, the plum rainy season is approaching in the lower and middle reaches of the Yangtze River, the demand from downstream users is anticipated to be sluggish, which will weaken the support to PPGI prices to a certain degree. It is thought that PPGI prices in the Chinese domestic market will continue the slight declines in the coming week.
As of June 6, HRC futures at Shanghai Futures Exchange are standing at RMB 3,092/mt ($429/mt), increasing by RMB 16/mt (2.2/mt) or 0.5 percent since May 30, while up 0.55 percent compared to the previous trading day, June 5.
$1 = RMB 7.1845