During the week ending January 14, prices in the Chinese pre-painted galvanized iron (PPGI) market have generally remained unchanged from the previous week's levels. As of January 14, 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 |
6,783 |
0 |
1,028 |
0 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,450 |
0 |
1,129 |
0 |
At present, CGCC 0.476 mm x 1,000 mm PPGI is sold in the Shanghai, Guangzhou and Boxing markets at RMB 6,650/mt ($1,008/mt), RMB 7,350/mt ($1,114/mt) and RMB 6,350/mt ($962/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm PPGI prices stand at RMB 6,750/mt ($1,023/mt), RMB 7,400/mt ($1,121/mt) and RMB 8,200/mt ($1,242/mt) in the above respective markets.
In the past week, in spite of the low demand for PPGI materials, many private sector mills have announced increases in their listed PPGI prices due to the continuous rising trend seen in upstream markets as well as due to the anticipation of further price increases for input materials.
With the Chinese Spring Festival approaching, a lot of downstream manufacturers are expected to replenish their PPGI stocks for the seven-day holiday. Thus, it is expected that an increase in purchasing activity in China's PPGI market will be seen in the coming week.
In conclusion, while China's PPGI market is expected to rise on the back of increased purchasing activity in the coming week, no big upward movement is anticipated in the market.