Having experienced a strong rising trend in the past few weeks, the Chinese PPGI market started to register a decline in sales volumes in the past week (March 27-April 2) as end-users mostly maintained a wait-and-see approach to the market. As of April 2, average PPGI prices in the main Chinese cities 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 | 6,727 | +483 | 986 | +71 |
PPGI | 0.426 mm x 1,000 mm | CGCC | 7,267 | +417 | 1,065 | +61 |
Currently, CGCC 0.476 mm x 1,000 mm PPGI is sold in the Shanghai, Guangzhou and Boxing markets at RMB 6,600/mt ($968/mt), RMB 7,200/mt ($1,056/mt) and RMB 6,380/mt ($935/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm prices stand respectively at RMB 6,650/mt ($975/mt), RMB 7,300/mt ($1,070/mt) and RMB 7,850/mt ($1,151/mt) in these markets.
With HDG prices having dropped somewhat, PPGI manufacturers have started to lose some confidence and began to slow down their purchasing pace in the past week. At the same time, some PPGI manufacturers have shown a clear intention to sell off their stocks as they seek to capitalize stock materials. Under such circumstances, downstream purchasers have changed their previous positive stance and started to adopt a wait-to-see policy.
Some domestic major PPGI producers, whose inventories are at normal levels and who have filled up their order books, have still continued to raise their prices.
On April 1, the PPGI price offered by Tianjin city-based producer Xinyu Color Plate Inc. was raised by RMB 300/mt ($44/mt), but has not attracted much interest.