During the week ending August 2, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have moved on a downtrend, 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 $640-660/mt, moving sideways compared to that recorded on July 26.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,407 |
-33 |
757 |
-5 |
0.426 x 1,000 |
CGCC |
5,567 |
-33 |
780 |
-5 |
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 decreases amid the slack demand from downstream users. Currently, cautious sentiments prevail among market players. Steelmakers have come under increasing pressure from the decrease in bookings by users. It is thought that PPGI prices in the Chinese domestic market may edge down slightly in the coming week.
As of August 2, HRC futures at Shanghai Futures Exchange are standing at RMB 3,525/mt ($494/mt), decreasing by RMB 32/mt ($4.5/mt) or 0.9 percent since July 26, while up 0.31 percent compared to the previous trading day, August 1.
$1 = RMB 7.1376
