During the week ending June 21, average prices of pre-painted galvanized iron (PPGI) in the Chinese domestic market have indicated slight rises, 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, decreasing by $5/mt compared to that recorded on June 14.
Specification (mm) |
Category |
Average price (RMB/mt) |
Weekly change (RMB/mt) |
Price ($/mt) |
Weekly change ($/mt) |
0.476 x 1,000 |
CGCC |
5,543 |
3 |
779 |
0 |
0.426 x 1,000 |
CGCC |
5,703 |
3 |
801 |
0 |
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 increases amid the limited resources arriving at the market. However, demand for PPGI from downstream users has been slack, resulting in slightly increasing inventory levels. Most traders stated their profitability has been limited, while part of them has been on the edge of loss. It is thought that PPGI prices in the Chinese domestic market will likely edge down in the coming week.
As of June 21, HRC futures at Shanghai Futures Exchange are standing at RMB 3,753/mt ($527/mt), decreasing by RMB 53/mt ($7.4/mt) or 1.4 percent since June 14, while down 0.77 percent compared to the previous trading day, June 20.
$1 = RMB 7.1196