The Chinese pre-painted galvanized iron (PPGI) market has moved on a stable trend in the past week, though transaction activity has been slow. As of September 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 |
6,640 |
0 |
1,041 |
0 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,250 |
0 |
1,136 |
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 ($1,019/mt), RMB 6,900/mt ($1,082/mt) and RMB 6,520/mt ($1,022/mt) respectively. At the same time, CGCC 0.426 mm x 1,000 mm PPGI prices stand at RMB 6,600/mt ($1,034/mt), RMB 7,050/mt ($1,105/mt) and RMB 8,100/mt ($1,270/mt) in the above respective markets. All prices include 17 percent VAT ($1 = RMB 6.38).
Traders in the Chinese PPGI market had stated that, with the traditional peak period for demand in September, the gradual commencement of projects would boost PPGI demand; however, the anticipated revival of demand has not yet been witnessed. PPGI traders in southern China report average monthly shipments of only 1,000 mt, down sharply from the previous level. Various factors such as higher purchase costs for supplies, increased financing costs, limited electricity supply and slackness of activity at downstream producers continue to influence the Chinese PPGI market.
It is thought that China's PPGI market will likely continue to follow a stable trend in the coming week.