During the week ending November 18, the Chinese pre-painted galvanized iron (PPGI) market has followed a stable trend. As of November 18, the average sales prices of PPGI 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 |
6,500 |
0 |
1,024 |
0 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,150 |
0 |
1,126 |
0 |
At present, CGCC 0.476 mm x 1,000 mm PPGI is sold in the Shanghai, Guangzhou and Boxing markets at RMB 6, 450/mt ($1,016/mt), RMB 6,900/mt ($1,087/mt) and RMB 6,150/mt ($969/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm PPGI prices stand at RMB 6,550/mt ($1,031/mt), RMB 7,000/mt ($1,102/mt) and RMB 7,900/mt ($1,244/mt) in the above respective markets. All prices include 17 percent VAT.
While PPGI prices in most regions of China have followed a stable trend this week, there have not been many transactions amid weak demand from traders and end-users. Due to tightness of funds, many buyers are not inclined to replenish their stocks at the current time. While downstream customers always prefer to pay traders after the arrival of products, traders are asking customers to pay before arrival as they are low on cash coming up to the end of the year.
Overall, it is expected that the Chinese PPGI market will probably maintain its stable trend in the week ahead.