In the past week, the Chinese pre-painted galvanized iron (PPGI) market has generally remained stable, despite the overall weakening in the Chinese finished steel markets. 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 |
1,042 |
0 |
PPGI |
0.426 mm x 1,000 mm |
CGCC |
7,233 |
0 |
1,136 |
0 |
As of October 14, the prices of CGCC 0.476 mm x 1,000 mm PPGI in Shanghai, Tianjin and Lecong are respectively RMB 6,500/mt ($1,020/mt), RMB 6,900/mt ($1,083/mt) and RMB 6,520/mt ($1,024/mt). For CGCC 0.426 mm x 1,000 mm PPGI, prices stand at RMB 6,600/mt ($1,036/mt), RMB 7,000/mt ($1,099/mt) and RMB 8,100/mt ($1,272/mt) in the abovementioned cities. All prices include 17 percent VAT ($1 = RMB 6.37).
In the Chinese PPGI market, demand is at moderate levels, though some reduction has been observed in transaction volumes. PPGI offer levels from the main mills have remained unchanged, while a slightly weak tendency has been noticed in actual market prices. Traders are not optimistic on the prospects for the future market and so they are not inclined to replenish their inventories. Some private sector mills, expecting stronger demand in the current period, have speeded up their production operations and their inventories have increased. However, most mills are not so optimistic are more inclined to reduce their inventory.
For the coming week, it is thought that the Chinese PPGI market may continue its general sideways trend.