During the week ending June 28, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have seen 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 $650-675/mt, remaining stable compared to that recorded on June 21.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,517 |
-27 |
774 |
-4 |
0.426 x 1,000 |
CGCC |
5,677 |
-27 |
797 |
-4 |
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. Heavy rainfall in many regions of China has exerted a negative impact on the market. Traders are experiencing tight liquidity towards the end of June, also negatively affecting PPGI prices. Lately, no information about steelmakers’ production halts and maintenance works has been heard, resulting in relatively high inventory levels. It is expected that PPGI prices in the Chinese domestic market will continue their downtrend in the coming week.
As of June 28, HRC futures at Shanghai Futures Exchange are standing at RMB 3,745/mt ($527.5/mt), decreasing by RMB 8/mt ($1.1/mt) or 0.2 percent since June 21, while down 0.05 percent compared to the previous trading day, June 27.
$1 = RMB 7.1268
