During the week ending July 29, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market for the thick specifications have continued their downtrend, though indicating slight rises for thin specifications, 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 $755-765/mt, moving down by $30/mt week on week.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
6,300 |
-40 |
934 |
-5 |
0.426 x 1,000 |
CGCC |
6,430 |
+4 |
954 |
+2 |
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 on diverse trends for thick and thin specifications. Some market players in the spot market have chosen to sell at lower prices, aiming to reduce their inventory levels. Actually, prices of PPGI have indicated fluctuations in the given week amid the rebounding trend of HRC futures prices. However, demand for PPGI from downstream users has not seen significant improvements, exerting a negative impact on prices. It is thought that PPGI prices may fluctuate within a limited range in the coming week.
As of July 29, HRC futures prices at Shanghai Futures Exchange (SHFE) are standing at RMB 3,969/mt ($589/mt), up RMB 148/mt ($22/mt) or 3.9 percent from RMB 3,821/mt on July 22.
$1 = RMB 6.7544
