During the past week, China's domestic PPGI market has remained stable but is expecting a rising trend on the back of increased orders. Meanwhile, higher HDG prices in China are contributing to boosting the cost factor in PPGI products.
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 |
5,960 |
$874 |
||
PPGI |
0.426 mm x 1,000 mm |
CGCC |
6,500 |
$953 |
At present, the prices of CGCC 0.476 mm x 1,000 mm in the Chinese PPGI markets in Shanghai, Guangzhou and Boxing are at RMB 5,750/mt ($853/mt), RMB 6,350/mt ($931/mt) and RMB 5,780/mt ($848/mt) respectively, while CGCC 0.426 mm x 1,000 mm are priced at RMB 5,850/mt ($858/mt), RMB 6,450/mt ($946/mt) and RMB 7,200/mt ($1,056/mt).
In the past week, futures prices for hot rolled products increased with prices of cold rolled products remaining stable; the result was upward pressure on prices of galvanized products. In recent days, purchases have surged as most traders have little or no stocks, with strong demand reported for pre-painted steel products.
PPGI producers in China have received many orders, with PPGI product prices rising by RMB 30-50/mt ($4-7/mt). Meanwhile, the large scale producers' prices for PPGI are at the same levels as before the Spring Festival.
As regards inventory, recent inventories of PPGI at Chinese private steel mills are relatively low, though an upward trend is expected in the coming period as production operation have started again this week.
In China it is difficult to gain a clear picture of demand for PPGI in the downstream market, as current dealings are principally among traders and are aimed at building up stocks.