During the past week, the Chinese pre-painted galvanized iron (PPGI) market has maintained stable movement. Meanwhile, a wait-and-see mood prevails in the market. As of July 16, 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 |
6,623 |
0 |
1,027 |
0 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,250 |
0 |
1,124 |
0 |
At present, CGCC 0.476 mm x 1,000 mm PPGI is sold in the Shanghai, Guangzhou and Boxing markets at RMB 6,500/mt ($1,008/mt), RMB 6,900/mt ($1,070/mt) and RMB 6,470/mt ($1,003/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm PPGI prices stand at RMB 6,600/mt ($1,023/mt), RMB 7,050/mt ($1,093/mt) and RMB 8,100/mt ($1,256/mt) in the above respective markets. All prices include 17 percent VAT ($1 = RMB 6.45).
PPGI demand is still sluggish in China. Many traders have decided to liquidate their inventories. Stocks continue to decrease slightly, and traders show little interest in concluding purchases.
With regard to privately-run steel mills, orders continue to be sluggish and PPGI production has been reduced recently due to the traditional seasonal slump. This week, PPGI prices of Tianjin Province-based Xinyu PCM Co. and Beijing-based Jinghua Steel Structure Industrial Co. have increased by RMB 50/mt ($7.8/mt), but other mills have not followed the example of these price hikes.
Overall, supplies are sufficient in China's PPGI market and there is no obvious shortage of products.
It is thought that China's PPGI market will show a sideways trend in the coming week.