In the past week, the Chinese pre-painted galvanized iron (PPGI) market has been on a slight downtrend. The average pre-painted galvanized iron prices in the main markets in China 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 |
6,640 |
0 |
1,041 |
0 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,233 |
-17 |
1,134 |
3 |
As of September 24, the prices of CGCC 0.476 mm x 1,000 mm PPGI in Shanghai, Tianjin and Lecong are respectively RMB 6,500/mt ($1,019/mt), RMB 6,900/mt ($1,082/mt) and RMB 6,520/mt ($1,022/mt). For CGCC 0.426 mm x 1,000 mm PPGI, prices stand at RMB 6,600/mt ($1,034/mt), RMB 7,000/mt ($1,097/mt) and RMB 8,100/mt ($1,270/mt) in the abovementioned cities. All prices include 17 percent VAT ($1 = RMB 6.38).
In the Chinese PPGI market, given low demand traders are anxious about the prospects for the market in the future. According to traders, as the automotive and household appliance industries are providing momentum for PPGI demand, transaction volumes are at low levels, despite the approach of the National Day holiday. Against the background of tight capital supply, many traders are not optimistic on the outlook for the transaction situation in the domestic PPGI market in the coming period.
Summing up, it is expected Chinese the PPGI market will vary between a slight downtrend and stability in the short term, with sharp decreases unlikely to be seen.