In the Chinese domestic pre-painted galvanized market, prices have been trending up continuously in the past week (March 15-19). Meanwhile, sales activities are pretty vibrant both in the domestic market and in the export markets. As of March 19, PPGI prices in the domestic market are as follows:
Product Name | Specification | Category | Average Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
PPGI | 0.476 mm x 1,000 mm | CGCC | 6,110 | +83 | 896 | +12 |
PPGI | 0.426 mm x 1,000 mm | CGCC | 6,767 | +83 | 970 | +12 |
Currently, CGCC 0.476 mm x 1,000 mm PPGI is sold in the Shanghai, Guangzhou and Boxing markets at RMB 6,000/mt ($880/mt), RMB 6,350/mt ($931/mt) and RMB 5,980/mt ($877/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm prices stand respectively at RMB 6,100/mt ($894/mt), RMB 6,450/mt ($946/mt) and RMB 7,550/mt ($1,107/mt) in these markets. Due to the large increase in base costs, PPGI prices have been pushed up by RMB 150/mt ($22/mt).
Compared with the previous few weeks, sales activities in the domestic PPGI market have indicated a notable improvement. With a large number of private producers raising their prices, buyers have been actively purchasing materials.
On March 18, Chinese steel giant Baosteel issued its April prices for color coated steels, keeping its prices unchanged. In the context of the rising prices from producers in general, end-user demand will determine whether the current uptrend will be sustained in the coming period.